The Indian rupee hit a fresh record low on Thursday amid a sharp increase in oil prices triggered by escalating West Asia conflict, and a stronger U.S. dollar weighed heavily on the currency.
The rupee’s USD/INR pair rose 0.2% to 93.318 — its highest level ever. It had jumped 0.8% on Wednesday.
A stronger U.S. dollar, after the Federal Reserve’s policy decision, also weighed on the rupee. The Fed maintained the interest rates.
The surge in oil follows an escalation in the conflict, after Iran attacked several energy facilities across the region following a strike on its South Pars gas field.
