India, March 30 -- The Indian Rupee erased its early gains and plunged to an all-time low of 95.22 against the US dollar in intra-day trade on Monday, pressured by rising crude oil prices, persistent geopolitical tensions, and a strong dollar.
The currency had initially opened on a positive note after the Reserve Bank of India reduced the net open position limit for banks. It opened at 93.62 and strengthened further to 93.57, marking a gain of 128 paise from the previous close.
However, the momentum reversed sharply, with the rupee falling about 160 paise from the opening level as external pressures weighed on sentiment in the currency market.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....