Rupee tumbled to its all-time low on Monday, dragged down by rising crude oil prices and increased demand for the greenback. The currency began the day at 92.20 against the US dollar, but slipped to 92.528 in early trading. The sharp plunge comes after a sharp spike in global oil prices.
Brent crude, the global benchmark, jumped over 25% to trade at $118 per barrel in futures trade as the war between US-Israel and Iran intensified. Experts said that the sharp rise in crude oil has also increased demand for dollars, particularly from oil importers, adding strain on the currency
