The rupee on Thursday fell 8 paise to an all-time low of 84.50 (provisional) against the US dollar due to heavy selling in domestic stock markets and a jump in crude oil prices amid volatile geopolitical situation. According to forex traders, the US currency strengthened due to safe-haven appeal amid escalating tensions between Russia and Ukraine, while continued outflow of foreign funds also put pressure on the domestic unit.
The rupee opened at 84.41 at the interbank foreign exchange market and touched an all-time low of 84.51 against the dollar during intra-day. The rupee closed at 84.50 (provisional) against the dollar at the end of the session. Thus, the rupee surpassed its previous all-time low closing level of 84.46 recorded on November 14. On Tuesday, the rupee closed stable at 84.42 against the US dollar.
