Rupee sinks to 95.33 as crude and foreign exits collide forcing tough policy tradeoffs

Crude surge and foreign outflows push depreciation

The Indian rupee slid to a record low of 95.33 per US dollar as surging crude oil prices and escalating foreign outflows intensified economic stress. Inflation concerns, widening deficits, and weak capital flows continued to weigh on the currency, while central bank interventions struggled to counter depreciation driven by energy disruptions.