Rupee Record Low Against Dollar: The currency fell 0.2% to 95.55 against the US dollar, breaching its previous all-time low of 95.4325 recorded last week.
The Indian rupee continued to extend its weakness on Tuesday, falling to 96.38 against the US dollar in early trade, amid persistently high oil prices.
The slip is driven by weakness in other Asian currencies amid subdued risk appetite, while high US yields added to the pressure. On a seven-day losing streak, the rupee has shed 2.2% and hit new lows.
However, the stock markets opened slightly higher than Monday’s close, with the Nifty 50 rising 0.11% to 23,675.3 and the BSE Sensex adding 0.17% to hit 75,441.27, at 9.15 am.
The marginal recovery can be attributed to the revival of hopes of a de-escalation of the US-Iran war which has been going on for almost three months now.
The US President Donald Trump on Monday signalled a possible nuclear deal with Iran.
Meanwhile, in a second increase in less than a week, the prices of petrol and diesel were hiked by 90 paise per litre on Tuesday.
Fuel prices remained the cheapest in Delhi, as it stands at Rs 98.64 per litre, up from Rs 97.77 per litre. Diesel now costs Rs 91.58 a litre against a previous price of Rs 90.67, reported PTI.
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