The rupee on Friday breached the 96 to the dollar mark for the first time, as US President Donald Trump’s latest social media post warning that the “war (West Asia) is to be continued” pushed crude oil prices up.
Further, continuous sales by FPIs in the domestic equity markets pressured the Indian currency.
However, the rupee closed a shade below the 96 mark, as RBI intervened in the market via dollar sales by State-owned banks.
The Indian unit hit record intraday as well, closing lows of 96.14 and 95.9650 (down about 20 paise against the previous close of 95.7625), respectively.
The rupee has closed at all-time closing lows in each of the five trading sessions this week. It has ended the week about 1.57 per cent weaker (or down about 149 paise) against last Friday’s close of 94.48.
