The Indian rupee fell sharply for the first time in two weeks as oil prices climbed beyond $100 a barrel following US moves affecting Iran port access. Early gains from dollar inflows linked to banks unwinding arbitrage positions faded quickly, leaving the currency exposed to higher import-cost pressure.
S&P warns global growth could slow to 3.2% in 2026 as West Asia conflicts spark what it calls the largest energy shock on record. The crisis is disrupting shipping lanes and energy distribution, rippling into international trade and raising costs across supply chains.
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