Rupee hits record low at 96.39

The Indian rupee continued its downward trend on Monday, hitting a fresh record low amid sustained pressure from global financial conditions and geopolitical uncertainty.

The rupee closed 39 paise weaker at 96.35 against the US dollar, after touching an intraday low of 96.39. This marks one of the weakest levels ever recorded for the Indian currency.

Earlier in the session, the rupee had breached the 96-mark for the first time in history, reflecting increasing stress in the foreign exchange market.

Market experts said that the currency is facing sustained pressure due to higher crude oil prices, a stronger US dollar, and ongoing geopolitical tensions, all of which have negatively impacted emerging market currencies.

Forex traders noted that the combination of global risk factors and capital outflows has weakened investor sentiment, pushing the rupee further down.

With external pressures continuing to mount, the rupee remains under close watch as markets assess the broader impact on inflation and trade balances.