New Delhi: The Indian rupee fell 32 paise to an all-time low of 95.20 against the US dollar in early trade on Thursday, pressured by soaring crude oil prices and a strong greenback.
At the interbank foreign exchange market, the rupee opened at 95.01 but slipped further to the record low, extending losses from its previous close.
Forex traders said the USD/INR pair may face further downside as Brent crude surged to around $121–$122 per barrel, sharply increasing India’s import bill. Concerns over a wider conflict in West Asia, including tensions around the Strait of Hormuz and disruptions linked to Iran, have intensified market anxiety.
The US dollar also strengthened after the Federal Reserve kept interest rates unchanged, while diplomatic tensions between Washington and Tehran boosted safe-haven demand.
On Wednesday, the rupee had already weakened by 20 paise to close at 94.88. The dollar index rose marginally to 98.96. Brent crude futures gained 3.16% to $121.76 per barrel.
