Indian Rupee at Record Low as Analysts Dust Off 2013 RBI Playbook

The Indian rupee fell to a record low as crude prices rose following a flare-up in violence in the Middle East, leading analysts to consider whether the central bank may return to its 2013 playbook to support the currency.

The rupee weakened as much as 0.4% to 95.4175 per dollar on Tuesday, breaching its April 30 low of 95.3337. Brent traded near $113 a barrel after surging 5.8% on Monday as traders tracked tensions in the Middle East after fresh clashes between the US and Iran.