The Indian rupee crashed 82 paise, or nearly 1 per cent, to settle at an all-time low of 93.71 (provisional) against the US dollar on Friday, weighed down by persistent foreign fund outflows and a steep rise in crude oil prices amid mounting geopolitical tensions. The Indian rupee is under tremendous pressure as surging crude oil prices and a shift toward risk-aversion dented investor sentiments. Moreover, heightened geopolitical uncertainty risks are driving energy costs higher, which could widen the trade deficit and stoke inflationary pressures. Rebound in domestic equities and slight retreat in dollar from 100 mark failed to provide any support to the local unit. Indian shares rebounded on Friday after witnessing one of their sharpest intraday declines in recent sessions the previous day amid broad-based selling across sectors. Sensex: closed at 74,532.96, up 325.72 points (+0.44%) while NSE Nifty 50: settled at 23,114.50, gaining 112.35 points.
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