New Delhi, 30 April (H.S.):

The weakness of the Indian rupee continues to intensify relentlessly. Today, the Indian currency depreciated by 49 paise, plunging to a record low of 95.34 against the US dollar. Ongoing tensions in West Asia, a sharp rise in crude oil prices, heightened dollar demand from importers due to it being the last day of the month, and indiscriminate selling by foreign investors withdrawing funds from the Indian stock market have all mounted continuous pressure on the rupee.

This pressure has once again driven the Indian currency below the 95-per-dollar mark in the interbank foreign exchange market. For the first time since March 30, the rupee's value has fallen below the 95 rupees per dollar level.

After trading until 11 a.m., the Indian currency was quoting at 95.30 against the dollar, down 45 paise. On the previous trading day, Wednesday, it had closed at 94.85 per dollar.

The rupee began today's trading by breaching the 95 level right from the opening.

Since the start, the Indian currency has remained consistently above 95 rupees per dollar. In the interbank foreign exchange market, it opened 17 paise or 0.18 percent weaker at 95.02 against the dollar. Following the market open, the rupee's position deteriorated steadily.

In today's trading so far, the rupee has underperformed not only against the dollar but also against the British pound (GBP) and the euro. After trading until 11 a.m., it was down 22.45 paise at 111.16 against the euro. Similarly, against the British pound (GBP), it had fallen 28.22 paise to 128.36.

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Hindusthan Samachar / Jun Sarkar