- Advertisement -
The Indian rupee’s freefall continued into the Tuesday session, marking a significant milestone in its depreciation as it touched a new bottom of 95.43 against the US Greenback. The breach of the 95-level signifies a deepening of the economic challenges posed by the volatile situation in West Asia, which has effectively weaponized energy prices against emerging markets.
With Brent crude hovering at $115 per barrel, the widening trade deficit is weighing heavily on investor sentiment. Market participants are now looking toward the Reserve Bank of India for potential liquidity measures or dollar sales to prevent the currency from sliding toward the 96-mark in the near term.