Rupee crashes 33 paise to fresh record low of 94.29 against US dollar

MUMBAI: (Mar 27) The rupee crashed 33 paise to a fresh all-time low of 94.29 against the US dollar in early trade on Friday, weighed down by elevated oil prices and a stronger greenback amid no breakthrough in the West Asia conflict.

Heavy sell-off in domestic equity markets and sustained FII outflows put further pressure on the local unit, according to forex traders.

At the interbank foreign exchange, the local unit opened at 94.18 and slipped further to 94.29 against the greenback, down 33 paise from its previous close.