The City Headlines
Ludhiana, March 7
On Monday, March 7, the Indian rupee hit a lifetime low as the crude-oil prices surge to above $130 amid the Russia-Ukraine war.
The Indian rupee has hit 76.96 per dollar, its weakest level ever. On Friday, the currency fell to close at 76.17 against the US dollar.
The reports suggest the downfall in the value of the rupee is a result of intensifying geopolitical risks due to the Russian-Ukraine conflict.
The Reserve Bank of India could be present to curb the volatility. The US dollar and yen are reportedly trading stronger.
This sharp fall in the rupee will have an impact on India in every sector. This will not only increase inflation but also increase the country’s trade and current account deficit.
