Indian rupee drops to ₹94.90 after Trump rejects Iran response
NewsBytes | May 11, 2026 2:39 PM CST
Rupee weak as reserves drop $7.8B
The rupee tried to bounce back but stayed weak thanks to foreign investors pulling money out and a stronger US dollar worldwide.
India's foreign exchange reserves also dipped by $7.8 billion during the week ended May 1.
On top of that, stock markets took a hit (Sensex fell 810 points and Nifty was down 225) as worries about global stability grew.
All this adds up to more pressure on India's economy and wallets here at home.
READ NEXT
-
'My neighbour's daughter is so lazy that it kicked off on bin day'
-
Sky News meltdown as Beth Rigby abandons interview after mic blunder
-
Ed Balls' future on GMB is crumbling more than Keir Starmer's place in No. 10
-
Mumbai Faces Water Supply Cut Amid Dwindling Reservoir Levels
-
UK fashion retailer closing down shops forever - in business for 9 years
