Rupee falls to historic low of 96.90; Sensex settles above 75,000 points

PT News New Delhi, May 20

The rupee fell 20 paise to an all-time low of 96.90 against the US dollar in early trading on Wednesday, pressured by a strong dollar and rising crude oil prices amid simmering tensions between the US and Iran. According to forex traders, the rupee was also under pressure from the withdrawal of Foreign Institutional Investors (FIIs) and the drop in equities benchmark indexes. At the interbank foreign exchange market, the rupee opened at 96.89 against the US dollar, then plunged further to 96.90, registering a fall of 20 paise from its previous close.

Meanwhile, the Sensex gained 117.54 points or 0.16 per cent to settle at 75,318.39, while the Nifty advanced 41 points or 0.17 per cent to close at 23,659.00.