INR stays stressed by elevated energy prices; tumbles well beyond Rs 96/$ mark
Mumbai, May 18 -- The Indian rupee opened on a weak note and slumped to an all-time low of 96.25 in early trade on Monday, as elevated crude oil prices, global uncertainty, and a stronger dollar continue to remain key risks for the domestic unit. At the interbank foreign exchange market, the rupee opened at 96.19, then fell further to 96.25 against the US dollar, registering a fall of 44 paise from its previous close. Higher crude oil prices, a stronger US dollar, and ongoing geopolitical tensions have together created a difficult environment for emerging market currencies, and the rupee is now clearly reflecting that stress. The BSE Sensex opened significantly lower at 74,430.83, shedding over 800 points, while the NSE Nifty 50 opened do...
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