India, March 4 -- The Indian rupee plunged 69 paise to hit a record low of 92.18 against the US dollar in early trading on Wednesday, weighed down by a sharp rise in crude oil prices amid escalating geopolitical tensions between the US and Iran.
According to forex traders, the domestic currency is facing significant pressure as Brent crude prices surged past USD 82 per barrel in futures trade following the intensifying Iran crisis, dampening investor sentiment.
At the interbank foreign exchange market, the rupee opened at 92.05 and further declined to an early low of 92.18 against the US dollar, marking a drop of 69 paise from its previous close.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....