💨 Abstract

On May 8, the Indian Rupee experienced its steepest single-day fall in over two and a half years, closing at 85.58 against the USD, down 81 paise. This decline was driven by heightened geopolitical tensions between India and Pakistan following attempted drone and missile strikes by Pakistani forces, which were neutralized by India. Additional factors included a strong U.S. dollar index and rising crude oil prices.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖