Rupee slumps to all-time low of 92.16 against US dollar
image for illustrative purpose
Mumbai: The rupee slumped 67 paise to close at an all-time low of 92.16 against US dollar on Wednesday, weighed down by spiking crude oil prices in the wake of the Iran crisis.
Forex traders said the dollar index crossed 98 levels on the risk-off situation prevailing all around the globe amid the US-Iran crisis, further pressurizing the rupee.
Moreover, massive selling in domestic equity markets and withdrawal of foreign funds further dragged the Indian currency down, they said. At the interbank foreign exchange, the rupee opened at 92.05 and touched an all-time intraday low of 92.35 against the greenback. The currency ended the session at an all-time low of 92.16 (provisional) against the dollar, registering a steep loss of 67 paise from the previous closing level.
