Bureau Prayagraj- There was a huge decline in the rupee against the dollar on Monday afternoon and for the first time it not only crossed the level of 95 but also reached a new record low level. The domestic currency is under pressure due to rising crude oil prices, ongoing geopolitical tensions and a strong dollar environment.

Although the rupee started with gains, it later lost its initial gains. At the interbank foreign exchange market, the rupee opened at 93.62 per dollar and then rose to 93.57 per dollar, registering an increase of 128 paise from its previous close.

However, this gain could not be sustained and the rupee fell to an all-time low of 95.22 against the American currency in intraday trade. Earlier on Friday, the rupee fell by 89 paise and closed at a record low of 94.85 per dollar.