The Indian rupee settled at a record low of 96.35 against the US dollar, marking its weakest closing level ever.

The Indian rupee settled at a record low of 96.35 against the US dollar, marking its weakest closing level ever. Market analysts attribute the sharp decline to rising crude oil prices, a strong US dollar, foreign investor outflows, and ongoing global geopolitical tensions. The fall in the rupee could increase import costs and add pressure on inflation, especially fuel prices, in the coming weeks.