Rupee hits record low past 94/USD as prospect of prolonged Iran war deepens energy risks - Reuters

The rupee breaking 94 to the dollar tells you everything about fiat fragility when geopolitical heat rises. Iran controls the Strait of Hormuz - 20% of global oil flows. Any sustained conflict there sends energy costs through the roof and emerging market currencies into the gutter. This is exactly why central banks have been accumulating gold at record pace. They see the writing on the wall. When currencies start failing and energy gets weaponized, gold becomes the only real money left standing. The rupee won't be the last currency to crater if this Iran situation escalates. Stack accordingly.