- The Indian rupee has hit the lowest level on record against the greenback.
- The latest selloff coincided with a spike in crude oil prices.
- India is a major oil importer, and the third-largest source of demand behind the US and China.
- Emerging markets, including India, have been under pressure in recent months due to higher crude prices, higher global interest rates, and renewed geopolitical tensions.
India is a large and rapidly growing economy, and also a major oil importer.
And with crude prices screeching higher this week, it’s taken its toll on the Indian rupee.
See the rest of the story at Business Insider
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