India, May 11 -- The Indian rupee plunged 82 paise to settle at an all-time closing low of 95.31 (provisional) against the US dollar on Monday amid heightened geopolitical tensions and a sharp surge in crude oil prices.
The domestic currency came under pressure after US President Donald Trump rejected Iran's response to the West Asia peace proposal, dampening hopes of a diplomatic resolution and pushing global oil prices higher.
Market sentiment was further impacted after Prime Minister Narendra Modi urged citizens to avoid buying gold and adopt austerity measures.
Forex traders said the strengthening US dollar and heavy foreign capital outflows also weighed significantly on the rupee during the session.
Published by HT Digital Content ...