Indian rupee drops on Middle East conflict

The Indian rupee dropped to its lowest point since mid-March on Thursday due to risk aversion in financial markets, with investors concerned about potential US participation in the Israel-Iran conflict.

As of 10:20 PM GMT the rupee hit a low of 86.8925 before slightly recovering to end the day at 86.7225 against the US dollar, marking a 0.3 per cent decrease for the day.

Attribution: Reuters

Subediting: Y.Yasser