Rupee falls to record all time low against dollar

Advertisement

The Indian rupee has plunged to an all-time low, breaching the 95 mark against the US dollar during intra-day trade, reflecting mounting pressure from global and domestic factors.

In the interbank foreign exchange market, the rupee opened on a stronger note at 93.62 and briefly improved to 93.57. However, the early gains failed to hold as the currency sharply reversed course and dropped to a record low of 95.22, marking a steep fall of around 160 paise from its opening level.

The continued weakness in the rupee is being driven by a combination of rising crude oil prices, persistent geopolitical tensions, and a strong US dollar. Higher global oil prices have increased concerns over India’s import bill, adding further strain on the domestic currency.

Advertisement

The dollar index remained firm above the 100 level, indicating sustained global demand for the US currency, which has limited any recovery in the rupee. At the same time, Brent crude prices surged to around $115 per barrel amid fears of supply disruptions.

On the domestic front, stock markets also witnessed heavy selling pressure. The Sensex dropped sharply by over 1,700 points, while the Nifty declined by more than 500 points. Foreign institutional investors continued to offload equities, contributing to the negative sentiment in the market.

Overall, the sharp fall in the rupee highlights growing external vulnerabilities and reflects the broader impact of global economic uncertainties on India’s financial landscape.

Also Read: OERC Sets FY27 Bulk Power Tariff for GRIDCO: Focus on Renewables & Cost Discipline in Odisha

Advertisement