Rupee hits all-time low of 93.88 against US dollar amid global uncertainties

• The rupee slumped 35 paise to settle at a provisional all-time low of 93.88 against the US dollar.
• Strengthening US dollar, elevated global crude prices, and foreign fund outflows contributed to the rupee's decline.
• Uncertainties surrounding the West Asia crisis and Iran's denial of Trump's claims further weighed on the local unit.
• The rupee has weakened by about 4.5 per cent during the month, with a projected range of 93.65 to 94.25 for Wednesday.
• Foreign institutional investors sold equities worth Rs 10,414.23 crore on a net basis on Monday.