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Rupee hits record low of 92 against dollar amid global uncertainty
['Telangana Today']
Telangana Today
Rupee hits record low of 92 against dollar amid global uncertaintyThe rupee touched a record low of 92 against the US dollar in early trade, pressured by strong dollar demand, rising oil prices and global risk aversion, even as the Federal Reserve kept interest rates unchanged.
On January 23, the rupee hit an all-time intraday low of 92 against the US dollar.
“Oil prices have risen more than 4 per cent this week, extending gains for a third consecutive session to levels last seen in late September.
As a net oil importer, India remains particularly vulnerable to sustained increases in crude prices, Pabari added.
Brent crude, the global oil benchmark, was trading 1.32 per cent higher at USD 69.30 per barrel in futures trade.