The Indian rupee lost as much as 12 paise to the US dollar on Tuesday as crude oil prices rose and foreign investors continued to sell stocks due to the West Asia crisis. The rupee touched an all-time low of 92.40 against the dollar in the intra-day session before closing at this level. The rupee traded in the range of 92.35 and touched an intra-day low of 92.47 before closing at the lifetime low.
The dollar index, an indicator of the dollar’s value against a basket of six major currencies, rose by 0.05 percent to 99.52. Brent crude oil prices rose as much as 2.65 percent to $102.86 a barrel.
Despite the rupee’s slide to an all-time low against the dollar, stocks rose on Tuesday. The BSE Sensex rose by as much as 567.99 points or 0.75 percent to close at 76,070.84. Similarly, the Nifty 50 rose by as much as 172.35 points or 0.74 percent to close at 23,581.15.
The trade deficit for February contracted slightly to $27.1 billion in January.
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