Rupee hits record ₹95.17 against US dollar, Modi urges restraint
NewsBytes | May 11, 2026 3:39 PM CST
Oil jumps amid Middle East tensions
Oil prices shot up over 4% due to Middle East tensions, making imports pricier for India (which buys most of its oil).
That pushed up demand for dollars and sent the rupee down further.
Investors also rushed toward safer assets like the US dollar, causing stock markets here to dip: SENSEX fell 1.39% and NIFTY dropped 1.26%.
With energy worries hanging over the market.
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