Rupee crashes to record low of 93.71: FII outflows, rising crude oil prices creating crisis similar to 1991 forex crunch?

Rupee crashes to record low of 93.71: FII outflows, rising crude oil prices creating crisis similar to 1991 forex crunch?

The fall was driven by a sharp drop of 108 paise in a single session, the steepest in four years. This ongoing crisis has revived memories of the 1991 Gulf War

Geopolitical tensions and the escalating Iran-Israel war are weighing heavily on the Indian rupee. Rising oil prices are pushing the dollar higher and triggering a continuous fall in the rupee. As a … [+5596 chars]