Rupee drops 108 paise amid rising oil prices
The rupee fell to a record low of ₹93.71, dropping 108 paise in a single session, its worst decline in four years. Analysts warn it may breach ₹95 in the next six months amid rising oil prices and significant FII sell-offs.
pre-market1 source ↓written by the desknot a recommendation
- record low
- ₹93.71
- 108 paise
- ₹92.63
- due
- $100
- in the next
- ₹95
The rupee fell to a record low of ₹93.71, down 108 paise from ₹92.63, marking its steepest decline in four years. This drop is driven by escalating fears of sustained oil prices above $100 due to the ongoing West Asia conflict, impacting the balance of payments.
• Analysts predict the rupee may breach ₹95 in the next six months.
• Foreign institutional investors have sold approximately ₹80,000 cr in equities, further pressuring the currency.
Not investment advice. For informational purposes only.