Mumbai, May 4: Rupee fell 39 paise to close at an all-time low of 95.23 against the US dollar on Monday, as the ongoing Middle East tensions are causing volatility in global markets, keeping oil prices high and raising fears of inflation and economic slowdown.
Forex traders said Brent oil, hovering near USD 110 per barrel, is putting pressure on oil-importing economies like India.
At the interbank foreign exchange market, the rupee opened at 94.95 against the US dollar, then lost ground and finally settled for the day at its lowest-ever closing level of 95.23, registering a fall of 39 paise over its previous close. On Thursday, the rupee had settled at 94.84 against the American currency. The Indian currency recorded its previous lowest closing level of 94.88 on April 29.
Stock exchanges and currency markets were closed on Friday on account of Maharashtra Day.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 98.26, up 0.11 per cent. (PTI)
