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Rupee Hits Record Low of 96 vs Dollar as Hormuz Crisis Sends Crude Prices Soaring

The rupee slid past 96 per dollar as Brent crude jumped on Strait of Hormuz tensions, forcing the RBI to step into the forex market. The episode exposes how dependent India's currency remains on the price of oil it must import.

Abhijit Chowdhury•Jul 18, 2026•5 min read
Rupee Hits Record Low of 96 vs Dollar as Hormuz Crisis Sends Crude Prices Soaring

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