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India scrambles to steady rupee as oil shock bites

India is scrambling to salvage a sinking rupee as surging oil prices linked to the Middle East conflict threaten to disrupt the world’s fastest-growing major economy. The currency has dropped more than 5 per cent since the crisis erupted in February, extending losses fr

First seen · 9:42 AM UTCMay 17, 2026

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India scrambles to steady rupee as oil shock bitesIndia is scrambling to salvage a sinking rupee as surging oil prices linked to the Middle East conflict threaten to disrupt the world’s fastest-growing major economy. The currency has dropped more than 5 per cent since the crisis erupted in February, extending losses fr
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