Rupee falls to record low of 96.25 against US dollar
MUMBAI: (May 18) The rupee opened on a weak note and slumped to an all-time low of 96.25 in early trade on Monday, as elevated crude oil prices, global uncertainty, and a stronger dollar continue to remain key risks for the domestic unit.
Forex traders said higher crude oil prices, a stronger US dollar, and ongoing geopolitical tensions have together created a difficult environment for emerging market currencies, and the rupee is now clearly reflecting that stress.
At the interbank foreign exchange market, the rupee opened at 96.19, then fell further to 96.25 against the US dollar, registering a fall of 44 paise from its previous close.
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