MUMBAI, March 20 -- The rupee crashed 64 paise to settle at an all-time low of 93.53 against the US dollar on Friday, weighed down by persistent foreign fund outflows and a steep rise in crude oil prices amid mounting geopolitical tensions.
Forex traders said the Indian rupee is under tremendous pressure as surging crude oil prices and a shift toward risk-aversion dented investor sentiments.
Moreover, heightened geopolitical uncertainty risks are driving energy costs higher, which could widen the trade deficit and stoke inflationary pressures, they added.
At the interbank foreign exchange, the local unit opened at 92.92 against the greenback and soon breached the 93-mark for the first time. It kept losing ground through the session and e...