The Indian rupee hit a historic low of 84.32 against the US dollar. This currency decline impacts the country’s purchasing power, even though India buys discounted oil from Russia and Venezuela.

The rupee’s depreciation effectively reduces the value of this discount, as imports become more expensive. On the other hand, if Russian funds remain within India, the losses from the rupee’s devaluation shift onto Russian oil companies. submitted by /u/XGramatik [link] [comments]