In the forex market, the rupee today logged big fall of 81 paise against the US dollar to hit life time low. It closed near the 77 rupees per dollar mark.
The local currency weakened as a sharp surge in global crude oil prices towards the 130 dollars per barrel level threatened to push up imported inflation and widen the country’s trade and current account deficits.
The rupee fell also due to robust appreciation in the US dollar which considered as safe investment amid Russia-Ukraine crisis.
The domestic currency settled at 76 rupees and 97 paise per dollar. On the other hand, the dollar index, which indicates the US dollar’s strength against a basket of six other leading currencies, rose to deal at 99.41 in intra-day trade.