Rupee hits record low of 93.49 against dollar
pre-market1 source ↓written by the desknot a recommendation
- mark
- 93 per dollar
- intra-day low
- 93.49
- is attributed
- 60 paise
- per dollar
- 92.92
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 stronger US dollar, ongoing FII outflows, and rising global crude oil prices amid geopolitical tensions in West Asia. Higher oil import costs raise inflation concerns and widen the current account deficit.
• Rupee opened at 92.92 per dollar
• Key factors: FII outflows, elevated oil prices, geopolitical tensions
• Immediate implications: Increased inflationary pressure on the economy.
Not investment advice. For informational purposes only.