Sanchita Chatterjee, BS News Agency: The global forex market is experiencing significant volatility today due to the escalating tensions in the Middle East. The US dollar is strengthening as investors seek safe-haven assets, while the euro is weakening. The Indian rupee has also fallen to a record low of 91.50 against the US dollar, driven by rising crude oil prices and foreign fund outflows. ¹ ² ³
*Key Market Movements:*
- _USD/INR_: The rupee has slipped to 91.50 against the US dollar, with the Reserve Bank of India likely intervening to support the currency.
- _EUR/USD_: The euro has fallen to around 1.1780, with investors shifting to safe-haven assets amid the conflict.
- _Gold_: Gold prices have risen above $5,400, driven by risk aversion. ⁴
The situation is expected to remain volatile, with investors monitoring developments in the Middle East and potential central bank interventions.
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