Currency Buzz: INR slides to record low above 95.20 per US dollar

The Indian Rupee faltered on Monday after recent spate of declines that weighed the currency down by persistent importer hedging demand. The INR currently quotes at 95.13 per dollar, down 29 paise on the day and hitting record lows of 95.23. Oil prices raced higher after falling in Asian trades and WTI Crude oil is currently up 3% at $104.63 per barrel. The US dollar index is up marginally at 98.20 mark. INR weakened following this even as the local equities gained modestly.

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