MUMBAI, March 30 (Reuters) – The Indian rupee fell to its all-time low on Monday, finding only fleeting relief from the Indian central bank’s decision to tighten limits on banks’ FX positions, with analysts noting that fundamentals remain skewed against the currency.
The rupee weakened past the 95 per dollar mark for the first time to 95.20 per dollar, down 0.3% on day.
Worries over elevated oil prices also kept Indian stocks under pressure with the Nifty 50 down 2% and on course for its worst monthly drop since March 2020.
(Reporting by Jaspreet Kalra; Editing by Janane Venkatraman)