Indian Rupee Hits Record Low: Impact on Commodity Prices and the Economy
– The Indian rupee has dropped past ₹90 against the US dollar, signaling significant stress.
– This record low increases import costs and inflation risks, challenging policymakers.
– Reasons include capital outflows and a record trade deficit, despite projected GDP growth of 6.5% for FY2025.
– A weaker rupee raises prices for crude oil, gold, and edible oils, straining household budgets.