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Rupee trims losses after hitting record low, all eyes on oil prices

The Indian rupee plunged to a record low as Middle East tensions fueled a surge in crude oil prices. This significant rise in energy costs is expected to prompt central bank intervention to stabilize the currency. Analysts warn of amplified rupee volatility and potential growth slowdown and inflation if oil prices remain elevated, overshadowing domestic economic data.

12 Mar 2026 4:16 pm