Business
Rupee on shaky ground, touches fresh low of 93.73
The pace of decline was rather quick, seemingly compensating for the Thursday trading holiday in Mumbai, with traders saying that market estimates of the central bank’s short dollar positions and sustained sales of Indian equity assets by overseas investors further pressured the rupee, which has lost more than 2.5% since the start of the Iran war.
The Reserve Bank of India (RBI) sold dollars at multiple levels on Friday, but traders said its interventions were aimed only at moderating the pace of depreciation, not reversing the pronounced downward trend.
“If the current trends continue, the rupee could weaken toward 94/$ to 95/$ levels, but the outlook remains highly fluid,” said Lakshmi Iyer, Group President, Investments, Bajaj Finserv. “Up until now, we have already seen reasonable intervention from the central bank, but beyond a point, the currency has to reflect the market equilibrium.”
The rupee had closed at 92.63/$ on Wednesday, LSEG data showed.
“With sustained FPI outflows and geopolitical uncertainty, the market is still searching for stability, and calling a firm range right now would be like throwing darts in the dark,” Iyer said.
One-Way Ticket
The rupee opened at 92.89/$ on Friday and consistently declined, crossing the 93/$ mark in the first hour of the day.
Traders said the RBI sold dollars at all key levels, 92.90/$, 93/$ and 93.50/$.
“There has been no positive news for the rupee since the war started, and though such a large fall wasn’t expected, it is understandable,” said Anil Bhansali, Head of Treasury at Finrex Treasury Advisors. “Importers are buying dollars to hedge their positions at almost all levels because they expect the currency to decline further, and at the same time, exporters have largely stopped hedging.”
Bhansali expects the rupee to trade in the range of 93.25/$ to 94.25/$ on Monday, as crude oil prices continue to stay above $100 a barrel.
Crude Oil India Basket stood at $156 per barrel on March 19, Petroleum Planning and Analysis Cell (PPAC) data showed, implying that India is paying a premium of $46 per barrel.
Brent crude prices are trading at $110 per barrel.
Reuters reported that Tehran attacked an oil refinery in Kuwait on Friday even as Tel Aviv vowed to avoid further attacks on Iran’s South Pars gasfield, a day after an Iranian retaliatory strike on Qatar caused damage that could cripple natural gas supplies for multiple years.
“Geopolitical tensions and their impact on crude prices will influence rupee levels. At the onset of the West Asia crisis, the rupee was expected to be between 93/$ to 94/$,” said Sameer Karyatt, MD and Head of Trading at DBS Bank. “But continuation in the conflict and upward pressure on crude oil prices are likely to guide the rupee towards the 94.50/$ to 95/$ range,” he said.
Rising crude oil prices fuel inflationary pressures and widen India’s current account deficit by increasing the import bill. They also weigh on economic growth by raising input costs for businesses and reducing consumption demand.
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Emerging Latin American boy group SANTOS BRAVOS released the official lyric video for “MHM” on March 18, 2026, drawing immediate acclaim for its dreamy visuals and uplifting energy as part of their debut EP “DUAL.” The track, a standout from the six-song project dropped March 13 under HYBE Latin America, has quickly become a fan favorite, amassing over 1.2 million views on YouTube within days while sparking widespread positive reactions across platforms.
Directed by Alejandro Bernal with editing by Mario Trujillo and color grading by Ana María Ormaza, the lyric video features soft, ethereal aesthetics — floating text synced to airy synths, pastel tones and subtle animations that evoke romance and lightness. Presented by HYBE Latin America, it ties into the EP’s dual identity: “Santo” side rooted in melodic Latin pop and “Bravo” in reggaetón-EDM intensity. “MHM” leans firmly into the former, delivering a breezy, feel-good sound with minimalistic production that highlights sweet vocals and catchy repetition.
The song opens with lines like “Esos ojitos caramelo / Con ese pelo combinan” (“Those caramel eyes / Go perfectly with that hair”), painting a flirtatious scene of admiration. The chorus builds around the titular “Mhm,” a hummed affirmation of attraction and desire, layered over soft percussion and shimmering synths. Clocking in at 2:19, “MHM” stands out for its understated charm — no explosive drops, just smooth, hypnotic flow that invites repeated listens. Lyrics by Spread LOF Rios and Caroline Ailin, with composition by Johnny Goldstein and others, capture youthful infatuation with poetic simplicity.
Fan reactions have been overwhelmingly enthusiastic. YouTube comments and reaction videos describe it as “brightening my heart” and “my favorite from the EP,” with viewers noting its sweet vocals and emotional warmth. One reactor called it “euphoric” and “the one that changes favorites daily,” praising how it grows on listeners. TikTok clips and Instagram reels show fans lip-syncing and dancing to the hook, while Reddit discussions highlight Kauê’s vocal delivery as a highlight. The video’s Paris-filming connection — tied to a Paris Fashion Week performance in January 2026 — adds behind-the-scenes intrigue.
“MHM” follows the group’s momentum from earlier releases. Debut single “0%” (October 2025) introduced their sound, while “KAWASAKI” exploded with over 33 million YouTube views for its club-ready energy. “DUAL” — featuring “0%,” “KAWASAKI,” “MHM,” “FE,” “WOW” and “Velocidade” — showcases versatility, earning praise in Billboard’s Latin music poll as fans’ top new release of the week. The EP topped fan-voted charts, with “MHM” positioned as a focus track for its melodic contrast to bolder cuts.
SANTOS BRAVOS formed through the HYBE Latin America reality series of the same name, which documented 17 trainees from Latin America, the U.S. and Spain in a K-pop-inspired program. The final five — Drew Venegas (U.S., 25), Alejandro Aramburú (Peru, 21), Gabi Bermúdez (Puerto Rico), Kauê Penna (Brazil, 19) and Kenneth Lavíll (Mexico) — debuted October 21, 2025, at Mexico City’s Auditorio Nacional. The group represents diversity and duality, with Drew bringing queer visibility as an out and proud member.
The lyric video release coincides with promotional pushes, including a weekly docuseries “detrás de DUAL” (Behind DUAL) on Spotify starting March 15, offering intimate looks at the EP’s creation. Grooming credits for the video went to stylist Charley McEwen using Oribe products, underscoring the polished visual identity.
Critics and fans alike note “MHM”‘s role in broadening SANTOS BRAVOS’ appeal. While “KAWASAKI” targets clubs, “MHM” offers emotional depth, appealing to listeners seeking romance and lightness in Latin pop. Reactions emphasize its replay value — “non-stop listening” is a common phrase — and how it complements the EP’s range.
As HYBE expands globally, SANTOS BRAVOS positions as a bridge between K-pop training rigor and Latin influences. The lyric video’s success signals strong fan engagement, with streams climbing on Spotify (474,773+ for “MHM”) and Apple Music. Upcoming plans include more content, potential remixes and live performances to sustain the buzz.
With “MHM” solidifying their place in the Latin pop scene, SANTOS BRAVOS continues building on a promising debut year. The track’s gentle euphoria and heartfelt delivery make it a bright spot in 2026’s emerging releases, proving the group’s ability to balance high-energy anthems with tender moments.
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Smiths Group shares fell despite a plan to return an extra 1.5 billion pounds ($2.01 billion) to shareholders as its full-year outlook came in slightly lighter than expected.
In morning trade its shares were the biggest fallers on the FTSE 100 index and were down 5.9% to 2,212 pence.
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‘The Ramsey Show’ host Dave Ramsey discusses how young adults feel isolated from buying homes and entering the real estate market on ‘FOX Business In Depth: Hitting Home: Rebuilding the Dream’
Young Americans are increasingly finding themselves shut out of the housing market as rising debt levels and lingering affordability pressures reshape the path to homeownership.
“The Ramsey Show” host Dave Ramsey joined FOX Business’ Cheryl Casone on the FOX Business In Depth Special, “Hitting Home: Rebuilding the Dream,” to break down the financial realities facing first-time buyers and why many are falling behind.
A panel breaks down rising inflation and housing market pressures as the Iran conflict drives up oil prices and economic uncertainty on ‘FOX Business In Depth: Hitting Home: Rebuilding the Dream.’
Ramsey pointed to a combination of record-high consumer debt and shifting economic conditions that have eroded buying power across younger generations.
“I’m afraid I have to tell you the truth… Corporate America has screwed you,” Ramsey said.
“Car debt is at an all-time high… Student loan debt is at an all-time high… And, of course, credit card debt… is at a all-time high.”
For sale sign in front of a house in Houston, Texas. (Kirk Sides/Houston Chronicle / Getty Images)
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Those pressures, he explained, are leaving many without the financial flexibility to enter the housing market, as disposable income is increasingly consumed by monthly obligations.
“When you’re drowning in personal debt, you can’t afford to buy a freaking house,” Ramsey said.
U.S. Federal Housing Director Bill Pulte discusses Federal Reserve interest rates and home-buying on ‘The Claman Countdown.’
Beyond debt, Ramsey also highlighted the post-pandemic housing surge as a key factor pushing first-time-buyer ages higher, noting that supply shortages and elevated prices continue to weigh on affordability.
MORTGAGE RATES JUMP TO HIGHEST LEVEL IN OVER 3 MONTHS
Despite the challenges, Ramsey pushed back on the idea that homeownership is out of reach, arguing that progress is still possible for those willing to aggressively tackle debt.
“Our message to Gen Z and to millennials… is: clear this debt, get rid of the stupidity, and chop up the cards and work your way through it… Once you do that, you can get there,” Ramsey said.
Sen. John Hoeven, R-N.D., discusses the ongoing partial government shutdown causing massive airport disruptions nationwide on ‘The Bottom Line.’
Elon Musk offered to cover the salaries of Transportation Security Administration (TSA) personnel during the ongoing government funding standoff.
“I would like to offer to pay the salaries of TSA personnel during this funding impasse that is negatively affecting the lives of so many Americans at airports throughout the country,” Musk said in an X post on Saturday morning.
Chief Technology Officer of X Elon Musk speaks onstage during the “Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk” session at the Lumiere Theatre during the Cannes Lions International Festival Of Creativity 2024 — (Richard Bord/WireImage / Getty Images)
This is a developing story. Please check back for updates.
Jussi Askola is the President of Leonberg Capital, a value-oriented investment boutique that consults hedge funds, family offices, and private equity firms on REIT investing. He has authored award-winning academic papers on REIT investing, has passed all three CFA exams, and has built relationships with many top REIT executives.
He is the leader of the investing group High Yield Landlord, where he shares his real-money REIT portfolio and transactions in real-time. Features of the group include: three portfolios (core, retirement, international), buy/sell alerts, and a chat room with direct access to Jussi and his team of analysts to ask questions. Learn more.
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InvestingPro’s Fair Value warned AeroVironment was overvalued at $380
Vincorion shares jumped on the group’s first day of trading as investors eye a business boost for Europe’s defense suppliers.
Shares in the German company, which supplies aviation and vehicle systems for the defense industry, traded at 19.59 euros in morning trading, up 15% from a listing price of 17 euros a share. The company had said it aimed to raise 345 million euros ($399.8 million) through the initial public offering at the listing price.
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