Rupee closes at fresh record low amid ongoing Middle East war

The Indian rupee closed at a fresh all-time low of 95.23 against the US dollar on Monday as the ongoing Middle East war disrupts global markets and oil supply. "[The] sustained rise in oil prices, coupled with foreign fund outflows, is putting visible strain on India's trade balance and...broader economy," an analyst said. Meanwhile, Brent crude rose to $113.69/barrel.