Rupee Falls 79 Paise to Close at All Time Low of 95.28 Against US Dollar
The Indian Rupee has fallen again. According to the reports, following US President Donald Trump’s denial of Iran’s response to the West Asia peace plan, which caused a spike in crude oil costs, the rupee crashed 79 paise to its all time low of 95.28 against the US dollar on Monday.
The local currency was also under pressure from a stronger dollar in the United States and massive foreign capital outflows, according to forex traders, reported by the PTI.
The rupee started the interbank foreign exchange market at 94.97 and traded against the dollar between 94.87 and 95.34. At its record closing low of 95.28 against the US dollar, it finally came to rest, a 79 paise decrease from its prior close, as stated above. On May 4, the local currency reached its previous record low closing level of 95.23 against the dollar and on May 5, it hit it’s all time intraday low of 95.44.
On the domestic stock market front, the Sensex fell 1,312.91 points, or 1.70 percent, to 76,015.28, while the Nifty dropped 360.30 points, or 1.49 percent, to 23,815.85.
Read Latest News and Breaking News at The Newsman, Browse for more Business News