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Indian Rupee Slides to Near 97 Per Dollar Amid Longest Losing Streak in a Decade

The Indian rupee hit another record low Wednesday, extending its worst run in ten years. The currency weakened for nine consecutive sessions and is now trading near 97 per dollar. Global investors increasingly position for further deterioration, with some forecasting it could reach parity at 100 per dollar. Market participants are closely monitoring policy responses from Indian authorities to stabilize the currency. Meanwhile, equities showed resilience, with the Nifty consolidating around the 23,600 level after a four-day decline. Asia's benchmark gained more than 2.5 percent in early trading as traders awaited catalysts to break through current resistance levels. Sentiment received a lift from U.S. diplomatic developments, with President Donald Trump indicating final-stage negotiations with Iran could yield an agreement.