Rupee crashes to record low as International Energy Agency chief warns of biggest energy shock ‘in history’

India’s rupee has suffered its sharpest one-day plunge in four years, crashing through the 93 mark against the dollar to an all-time low. Analysts warn the worst may still lie ahead if the Middle East conflict drags on. With India importing nearly 90 per cent of its crude oil and around half its natural gas, the currency is highly exposed to the global energy shock now unfolding. Strategists say the rupee could weaken beyond 95 and even approach 96 as pressure builds. “We see the Indian rupee as vulnerable,” says Michael Wan, currency analyst at MUFG Bank, predicting it could…