Rupee Hits Record Low: 92.36 Against US Dollar

Mumbai, Mar 12 (PTI) The rupee tumbled 35 paise to hit all-time intra-day low of 92.36 against the US dollar on Thursday as global crude oil prices kept rising overnight and showed no signs of easing amid the raging war in West Asia.

A stronger greenback, and weak sentiments in the domestic equity markets further weighed on the rupee, which was already on a weak footing in early trade due to heavy FII outflows, forex traders said.

At the interbank foreign exchange, the local unit opened at 92.25 but kept falling to hit an all-time intra-day low of 92.36 against the US dollar, losing 35 paise from its previous close.

The rupee had seen its previous record intra-day low of 92.35 against the greenback on March 9.


On Wednesday, it declined 16 paise to settle at 92.01 against the US dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.18 per cent higher at 99.40.

Brent crude, the global oil benchmark, was trading higher by 6.72 per cent at USD 98.16 per barrel in futures trade.

On the domestic equity market front, the Sensex plunged 445.26 points, or 0.58 per cent, to 76,418.45 points, while the Nifty was down 121.70 points, or 0.51 per cent, at 23,745.15.

Foreign institutional investors sold equities worth Rs 6,267.31 crore on a net basis on Wednesday, according to exchange data.