Rupee falls to record low of 96.25 against US dollar in early trade

The rupee slumped to an all-time low of 96.25 in early trade on Monday, as elevated crude oil prices, global uncertainty, and a stronger dollar continue to remain key risks for the domestic unit.

Forex traders informed higher crude oil prices, a stronger US dollar, and ongoing geopolitical tensions have together created a difficult environment for emerging market currencies, and the rupee is now clearly reflecting that stress.

At the interbank foreign exchange market, the rupee opened at 96.19, then fell further to 96.25 against the US dollar, registering a fall of 44 paise from its previous close.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.32, higher by 0.04 per cent due to simmering Iran tensions.

Brent crude, the global oil benchmark, was trading up 1.83 per cent at USD 111.26 per barrel in futures trade.

On Friday, the Indian rupee crashed below the 96/USD mark on Friday before closing at an all-time low of 95.81 against the US dollar.

(with PTI inputs)