Rupee hits low against dollar as oil prices surge

Mumbai: The rupee hit a lifetime low in opening trade on Monday as a sharp surge in international crude oil prices threatened to push up imported inflation and widen the country's trade and current account deficits, Reuters reported.

The partially convertible rupee was trading at 76.92/93 per dollar, after touching 76.96, its weakest level ever. It had closed at 76.16 on Friday, according to a



Reuters report.

On the interbank foreign exchange, the rupee opened at 76.85 against the US dollar, then slipped further to 76.98, registering a decline of 81 paise from the last close, PTI report said.

On Friday, the rupee fell by 23 paise to close at 76.17 against the US dollar, the lowest closing level since December 15, 2021.