Rupee crashes 139 paise to 94.90 against US dollar

MUMBAI: (May 11) The rupee crashed 139 paise to 94.90 against the greenback in early trade on Monday after President Donald Trump rejected Iran’s response to the US’s peace proposal, following which crude oil prices surged rapidly.

A strengthening US dollar and steep FPI outflows further pressured the local unit, according to forex traders.

At the interbank foreign exchange, the rupee opened at 94.97 against the US dollar before inching up to 94.90, down a staggering 139 paise from its previous close.