India, March 9 -- The rupee tumbled 46 paise to 92.28 against the US dollar in early Monday trade, approaching its all-time intraday low, as surging global crude oil prices and a strengthening greenback weighed on sentiment amid escalating tensions in the Middle East.
Brent crude, the global oil benchmark, jumped sharply by 25.68 percent to USD 116.5 per barrel in futures trade as the conflict involving the US, Israel, and Iran intensified.
Heavy foreign institutional investor (FII) outflows and a sharp decline in domestic equity markets during morning trade added further pressure on the local currency, according to forex traders.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....