Rupee plunges as oil hits $100 on US-Iran tensions

Rupee plunges as oil hits $100 on US-Iran tensions — The Indian Rupee fell sharply to ₹83.50 per USD, pressured by rising crude oil prices as global benchmarks crossed $100 per barrel amid escalating US-Iran tensions. A weaker rupee increases import costs and inflation risks, potentially affecting RBI's rate stance. Higher oil prices also widen India's current account deficit, impacting overall macro stability.

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