The Indian rupee is seen charting new territories on Thursday as oil prices continues to soar amid no respite from geopolitical tensions in the Middle East tensions. US President Donald Trump reportedly said on Wednesday that he will continue the naval blockade of Iran until he secures a deal with Tehran to address the country's nuclear program. In turn, Iran warned of unprecedented military action against continued US blockading of Iran-linked vessels. INR opened at Rs 95.01 per dollar and hit a new all time low of 95.20 so far during the day. Yesterday, the counter settled at 94.88. Month end dollar demand and foreign fund outflows are adding pressure on the domestic currency. Indian equity markets also opened sharply lower, with benchmark indices Nifty 50 and SENSEX under significant pressure due to weak global cues and rising crude oil prices.
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