India, March 27 -- The Indian rupee weakened sharply by 33 paise to hit a fresh all-time low of 94.29 against the US dollar in early trade on Friday, pressured by elevated crude oil prices and a stronger dollar amid no major progress in the ongoing West Asia conflict.
The decline was further driven by a sharp sell-off in domestic equity markets and continued foreign institutional investor (FII) outflows, according to forex traders.
At the interbank foreign exchange market, the rupee opened at 94.18 and slipped further to 94.29 against the US dollar, marking a drop of 33 paise from its previous close.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....