The Indian rupee has fallen 32 paise to hit an all-time low of 95.20 against the US dollar (25.94 against the UAE dirham) in early trade on Thursday.
The currency is weighed down by soaring Brent crude oil prices, which hover around $122 per barrel, and a strong American dollar.
Traders speaking to PTI said that the pair may see a further slip as rising crude oil prices are likely to sharply impact India’s import costs, while concerns over potential wider conflict in the Middle East are fuelling investor anxiety.
The dollar, seen as a safe haven during the crisis, rose against its peers.
Stock markets fell, with Tokyo, Hong Kong, Sydney, Seoul, Taipei, Mumbai, Bangkok, Manila, and Jakarta all experiencing declines. There were gains in Singapore and Wellington, while Shanghai was flat.
