Indian Rupee Falls to Record Low of ₹92.16 Against US Dollar Amid Iran Crisis
The Indian Rupee weakened by 67 paise to close at a record low of ₹92.16 against the US Dollar due to rising crude oil prices and escalating tensions between the US and Iran.
Prasanth Subramani
The Indian Rupee declined sharply in Tuesday’s foreign exchange trading, falling by 67 paise to close at a record low of ₹92.16 against the US Dollar.
Currency traders said the decline was mainly due to rising crude oil prices triggered by the ongoing tensions involving Iran and the United States.
Pressure from Strong Dollar Index
Amid the geopolitical tensions, the US Dollar Index crossed the 98 mark, increasing pressure on emerging market currencies including the Indian rupee.
According to forex traders, the rupee also weakened due to continued outflows of foreign funds and the negative trend in the domestic stock market.
Forex Market Movement
In the interbank foreign exchange market, the rupee opened at ₹92.05 per dollar and later touched an intraday low of ₹92.35.
By the end of the trading session, the rupee settled at ₹92.16 per dollar, marking the lowest closing level ever recorded for the Indian currency.
This represents a 67-paise decline compared to the previous trading session, highlighting the impact of global geopolitical tensions and financial market volatility on the Indian currency.
Source : Dinamani
