Rupee hits record low of 93.49 against dollar
after close1 source ↓written by the desknot a recommendation
- mark
- 93 per dollar
- intra-day low
- 93.49
- is attributed
- 60 paise
The Indian rupee fell sharply on 20 Mar 2023, breaching the 93 per dollar mark for the first time, hitting an intra-day low of 93.49. This decline of 60 paise is attributed to a strengthening US dollar, persistent FII outflows, and rising crude oil prices amid geopolitical tensions in West Asia.
Traders are concerned about inflation and a widening current account deficit due to higher oil import costs, which may impact market sentiment in the near term.
Not investment advice. For informational purposes only.