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New Delhi. The Indian Rupee has reached a historic low of 96.14 against the US Dollar for the first time. The ongoing tension in the Middle East, rising crude oil prices and continuous selling by foreign investors have put huge pressure on the Indian currency. According to experts, if the situation does not improve, then one dollar may soon touch the figure of Rs 100.

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Meanwhile, the Congress party strongly attacked Prime Minister Narendra Modi by making an old video of 2013 viral. In this video, the then Gujarat CM Modi is raising questions on the weakness of the rupee during the UPA government. Narendra Modi had said that the rupee does not fall just like that, if the PM of the country is weak then the rupee falls.

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While sharing these statements, it has been asked whether the 2013 formula is now applicable if the dollar crosses 90 in 2026? Congress wrote on Twitter that the Indian Rupee crossed 96 against the US Dollar, now the century is awaited. Now market experts are warning that if the situation does not improve, the price of the dollar may soon touch the level of Rs 100.

Foreign tension increased the heartbeats of Indian market

The biggest reason behind this decline is the geopolitical crisis in the Middle East. The mutual conflict between America, Israel and Iran has frightened the global market. Investors around the world are in fear due to fears of supply disruption in the Hormuz Route. In these war-like situations, investors always look for a safe haven, which they are currently seeing in the US dollar. This huge demand for the dollar has taken the dollar index (which measures the strength of the dollar against 6 major currencies of the world) to the level of 99.07. The stronger the dollar becomes in the global market, the more Asian currencies start weakening.

Crude oil becomes the biggest challenge for the economy

India buys more than 85 percent of its crude oil from abroad. In the international market, Brent crude has currently crossed the dangerous level of $ 107 per barrel. Oil becoming expensive means that India will have to spend more dollars to buy it. According to a recent survey by Reuters, the oil production of OPEC countries in the month of April has fallen to the lowest level in the last two decades.

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Saudi Aramco CEO Amin Nasser has made it clear that about 100 million barrels of oil is being lost every week due to the stoppage of oil exports from the Strait of Hormuz. In such a situation, it may take time till 2027 for the market to stabilize. Investment bank JP Morgan’s report also says that even if the route opens next month, oil will remain around $100 due to logistics problems.