The Indian rupee is being pounded to fresh record lows amid ongoing Middle East mayhem. Soaring oil prices and inflationary concerns and withdrawing investor sentiments are altogether adding immense pressure on the Indian currency that is seen battered to hit lows near Rs 94 per dollar mark. INR opened at Rs 93.85 per dollar and hit a new low of 93.95 so far during the day. On Friday, rupee ended at 93.53. Indian shares opened sharply lower on Monday as investors fret about the spillover effects of elevated energy costs from the Middle East conflict to inflation and global economic growth. Indian stock markets are experiencing a significant crash, with the Sensex plunging over 1,400 points to around 73,080 and the Nifty 50 dropping below 22,700, driven by weak global cues and geopolitical uncertainty. The currency has fallen 3% since the conflict began and remains under pressure as the crisis enters its fourth week.
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