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ICICI Bank says if tensions in West Asia drag on, the rupee could slide even closer to ₹100 per US dollar.
Every day stuff like fuel, electronics, and imported goods will likely get pricier, so inflation is a real worry.
On the flip side, Indian IT and pharma exporters might actually gain since their earnings in dollars are now worth more rupees.
But sectors that rely heavily on imports, like airlines, FMCG brands, and carmakers, are set to feel the pinch as costs rise.