Indian rupee falls to 94.10 per dollar as oil surges
NewsBytes | April 23, 2026 11:39 PM CST
Indian markets dip, private sector recovers
Rising energy costs hit Indian markets hard: the Nifty 50 index fell by 0.8%, and regional stocks also took a dip.
Tensions are up after Iran seized two ships in a key shipping route.
Still, there's a silver lining: survey data show India's private sector is bouncing back in both manufacturing and services this April.
According to HSBC's Pranjul Bhandari, businesses are preparing for higher prices ahead.
The Reserve Bank of India is keeping an eye on oil trends.
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