The Indian rupee has fallen to a historic low against the US dollar, crossing the ₹96 mark for the first time ever. Experts say rising crude oil prices, strong US economic data, and foreign fund outflows are putting heavy pressure on the rupee.
Although RBI intervention helped the currency recover slightly, the rupee has already lost over 6% this year. A weaker rupee could make fuel, cooking oil, electronics, gold, and foreign education more expensive for Indians. However, exporters may benefit as Indian goods and services become cheaper in global markets.
