India, March 23 -- The rupee extended its losses in early Monday trade, falling 41 paise to touch a record low of 93.94 against the US dollar. The decline comes amid elevated global crude oil prices driven by ongoing tensions in West Asia, along with continued strength in the US dollar.
Forex traders noted that persistent foreign fund outflows and a sharp fall in domestic equity markets during the morning session further pressured the local currency.
In the interbank foreign exchange market, the rupee opened at 93.84 against the US dollar and continued to weaken, hitting its all-time low of 93.94—down 41 paise from the previous close.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....