Rupee Decline Continues.. New Record in the Forex Market

The Indian rupee slipped to a fresh all-time low amid continued pressure in the forex market. During Monday’s trading session, the rupee depreciated by 39 paise against the US dollar to close at ₹95.23. Although the currency had crossed the ₹95 mark during intraday trading on previous occasions, this is the first time it has closed above that level.

Forex analysts attributed the sharp decline to rising geopolitical tensions in West Asia, elevated crude oil prices, inflation concerns, and fears of slowing economic growth. Market experts also pointed to global uncertainty and foreign fund outflows as major factors impacting the Indian currency.