Indian Rupee Falls Most in Four Years as Risks From War Mount

India’s rupee weakened the most in four years, falling past the 93 per dollar to a fresh low as prospects of a prolonged Middle East conflict stoked fears over a widening importing bill.

The currency dropped as much as 1.2%, the most since February 2022, to 93.76 per dollar, catching up with weakness in regional peers as trading resumed after a public holiday on Thursday. It weakened past the closely watched 94 level in the offshore market.