Rupee at Its Lifetime Low Against Dollar
The rupee hit a lifetime low in opening trade on Monday as a sharp surge in international crude oil prices threatened to push inflation up.
Rupee hits today bottom rock. The partially convertible rupee was trading at 76.92/93 per dollar, after touching 76.96, its weakest level ever.
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As per PTI reports, on the interbank foreign exchange, the rupee opened at 76.85 against the US dollar, then slipped further to 76.98, registering a decline of 81 paise from the last close.
The Indian Rupee started weak this Monday morning as the dollar spiked along with crude oil this morning, said Sriram Iyer, senior research analyst at Reliance Securities.
The US dollar and the yen are trading stronger this Monday morning in Asian trade as investors moved towards the safe-haven assets, Iyer noted.
Source: India Today
The Indian rupee has been hit amidst the global economic turmoil caused by the Russia-Ukraine war.