Rupee hits record low of 96.18 vs USD as rising yields add to oil shock

The Indian rupee hit a new all-time low against the dollar on Monday, plummeting to 96.18. Soaring global bond yields, fueled by elevated energy prices from the Iran war, have weakened investor confidence. This marks the rupee's fifth consecutive session of record lows, making it Asia's worst-performing currency this year.

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