The Middle East conflict continues, and the Indian rupee has weakened to a new low.

Amid ongoing concerns about the Middle East conflict, the Indian Rupee weakened to a new low against the US Dollar. Zerlina Zeng of CreditSights said, "Since the start of the US-Iran war, Asian currencies have generally weakened against the US Dollar. Not surprisingly, markets that are more dependent on imports of Middle East oil and natural gas have been impacted the most." This includes the Indian Rupee, Thai Baht, and Korean Won. Zeng said that unless the disruptions in the Strait of Hormuz are eased, these currencies may continue to face downward pressure. Zeng pointed out that central bank intervention has helped provide a buffer for the Rupee. According to data from the London Stock Exchange Group, the US Dollar against the Indian Rupee has recently risen by 0.3%, to 92.6110, after previously reaching an intraday record high of 92.6490.