Rupee inches towards 96: Currency touches record low at 95.85 against US dollar - The Times of India

Rupee continued to tumble on Thursday, slumping 0.1% paise to 95.85 against US dollar in early trade.

The currency has been continuously dragged down by rising crude oil prices and ongoing Middle East conflict.

With this, the currency has recorded fall of 1.4% this week, breaching multiple record lows, according to Reuters.This comes after the currency had already touched a fresh all-time low of 95.80 on Wednesday, before closing at 95.66.

Currency traders noted that intervention by the Reserve Bank of India, along with the government’s move to tighten gold imports through higher tariffs, helped prevent sharper depreciation.

However, the broader outlook for rupee remained largely vulnerable to oil price movements and geopolitical developments. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}});At Wednesday’s interbank forex session, the rupee had opened stronger at 95.52, up 16 paise from its previous record closing low.