India-Pakistan tension escalates, Indian rupee records its biggest drop since 2022.

Amid escalating tensions with neighboring Pakistan, the Indian Rupee hit its biggest drop against the US Dollar in over three years. The Rupee fell 1.1% to 85.7913 against the Dollar, marking the largest drop since February 2022. Pakistan had previously claimed to have shot down an Indian drone, while India stated that it had thwarted missile attacks by Pakistan on 15 cities. The Indian stock market also saw a larger decline, with the benchmark Nifty 50 index dropping by 0.7% at one point, marking the biggest drop since April 25th.