Indian rupee slides to fresh record low

The Indian rupee has plummeted to a record low as the soaring oil price and internal economic problems continue to derail growth.

The Indian currency plunged 3.7% in a single day, its largest one-day percentage fall in 18 years, to as low as 68.7 rupees per dollar. The currency is headed for its worst annual loss since a balance of payments crisis in 1991, having fallen 20% already this year, and 13.6% this quarter. The local stock market also tumbled as investors sold nearly $1bn Indian shares in Tuesday's trading sessions, according to Reuters. Investors panicked as tensions in Syria continue to escalate and governments in the US, France and UK consider military action. The worry is that continued unrest...