Mumbai: The Rupee crashed 33 paise to hit a fresh all-time low of 94.24 against the US dollar in early trade on Friday. The Indian currency was hit by rising crude oil prices and a stronger greenback amid no breakthrough in the West Asia conflict.
The relentless selling by Foreign Institutional Investors put further pressure on the Rupee, forex traders said.
At the interbank foreign exchange, the local unit opened at 94.18 and slipped further to 94.29 against the greenback, down 33 paise from its previous close.
“With Brent oil prices again going past USD 105.75 per barrel, and the dollar index rising towards 100, the rupee opened weak,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.