Lagatar24 Desk
The Indian rupee has touched a record low against the US dollar, breaching the 96 mark for the first time during Friday’s trading session before closing at 95.81 per dollar — its weakest closing level ever. Over the past five trading sessions, the rupee has fallen by approximately 2.30 rupees, averaging a decline of 46 paise per day.
What Is Driving the Fall
Experts attribute the sharp depreciation to rising crude oil prices linked to Iran-related tensions, heavy selling by foreign investors, and broader global uncertainties. A stronger dollar, buoyed by robust US economic data and reduced expectations of a Federal Reserve interest rate cut, has added further pressure on the Indian currency.
Scale of the Decline This Year
The rupee has lost over 6 percent of its value against the dollar so far this year, with nearly 2 percent of that decline occurring in just the last six trading sessions. During Friday’s session, the rupee opened at 95.86 in the interbank foreign exchange market, fell to an intraday low of 96.14, and recovered slightly to close at 95.81, likely due to the Reserve Bank of India’s intervention.
Rupee Could Cross 100 Mark
Market experts warn that further weakness lies ahead. If crude oil prices continue to rise and foreign investor selling persists, the rupee could cross the 100 per dollar mark by the end of the year, experts cautioned.
