Rupee hits record low of 95.20 against US dollar, slides 32 paise in early trade

NEW DELHI: Rupee fell 32 paise to an all-time debased of 95.20 against the US dollar successful aboriginal commercialized connected Thursday, pressured by rising planetary crude lipid prices and a strengthening American currency.At the interbank overseas speech market, the rupee opened astatine 95.01 and weakened further to interaction a grounds debased of 95.20, extending losses from the erstwhile session. On Wednesday, the currency had depreciated 20 paise to adjacent astatine 94.88 against the dollar.Global lipid prices surged past $120 aft concisely touching $122, the highest level since 2022 arsenic fears of prolonged proviso disruptions intensified amid a deadlock successful talks to extremity the US struggle with Iran.Forex traders said the USD/INR brace whitethorn look further downside arsenic elevated lipid prices are expected to summation India’s import bill, portion concerns implicit a broader struggle successful West Asia proceed to measurement connected capitalist sentiment.Brent crude, the planetary lipid benchmark, roseate 3.16 per cent to USD 121.76 per tube successful futures trade, portion the dollar scale edged 0.01 per cent higher to 98.96, reflecting continued spot successful the US currency aft the Federal Reserve kept involvement rates unchanged.

In the home equity market, the BSE Sensex fell 821.79 points to 76,674.57 successful aboriginal trade, portion the NSE Nifty declined 287.3 points to 23,890.35.Foreign Institutional Investors continued to offload Indian equities, selling shares worthy Rs 2,468.42 crore connected Wednesday, according to speech data.