Indian rupee sinks to record low

The Indian rupee fell past 93 per dollar for the first time on Friday and logged its worst single-day drop in over four years, on worries over the hit to Asia’s third-largest economy from the Iran war-led disruptions to global energy supplies.

- 

The rupee fell more than 18 to 93.7350 against the US dollar, eclipsing its previous record low of 92.63 touched on Wednesday. It closed at 93.71 and was down about 1.38 on the week, the steepest decline since late 2022.

A prolonged spike in crude prices could slow growth and stoke inflation in the world's third-biggest oil importer and consumer.