Rupee hits all-time low after PM Modi urges people to conserve fuel, avoid gold purchases

The Indian rupee hit a record low of ₹95.17 against US dollar on Monday. This came after PM Narendra Modi urged citizens to reduce petrol and diesel consumption and defer gold purchases for a year amid Iran-US war. The fall also followed US President Donald Trump rejecting Iran’s response to a US peace proposal, which triggered crude oil price spike.