The Indian rupee extended its decline on Monday, closing at a fresh record low against the US dollar as persistent global and domestic pressures weighed on the currency. The rupee ended the trading session 39 paise weaker at 96.35, marking its lowest-ever closing level. During intraday trade, it touched a new low of 96.39, reflecting sustained selling pressure in foreign exchange markets.

Earlier in the session, the currency briefly breached the 96-mark for the first time in history, sliding to an intraday low of 96.14 before recovering slightly. The sharp depreciation underscores continued volatility in India’s forex markets, which have been under strain for several consecutive trading sessions.

Market participants attributed the rupee’s weakness to a combination of external factors, including a stronger US dollar and rising crude oil prices, both of which typically pressure import-dependent economies like India. Ongoing geopolitical tensions have also contributed to a risk-averse global sentiment, prompting investors to move away from emerging market currencies.

Also Read: Rupee Settles At 94.15 Against US Dollar, Up 1 Paisa In Volatile Trade

Forex traders noted that sustained dollar demand from importers, coupled with foreign fund outflows, has added to the downward pressure on the rupee. The currency has been steadily weakening in recent weeks as global financial conditions tighten and capital flows remain uncertain.

Analysts said the latest slide reflects broader macroeconomic stress rather than a single-trigger event, with global interest rate expectations and commodity price movements playing a significant role. Market watchers will now be closely tracking central bank signals and global developments for any signs of stabilization in the currency’s trajectory.

Also Read: Rupee Settles At 94.15 Against US Dollar, Up 1 Paisa In Volatile Trade