Rupee stays record low! Indian currency opens at 91.07 against US dollar; slips 0.05% from previous close
Earlier on Tuesday, the domestic currency touched a fresh record low of 91.14 per dollar before recovering partially to close 15 paise lower at 90.93.
Currency traders said the pressure came despite weakness in the US dollar and a sharp decline in global crude oil prices.The rupee has been under sustained stress in recent sessions, having breached the 90-per-dollar mark on Monday to hit record lows for the third straight session.
Concerns over a prolonged deadlock in the US–India trade negotiations and persistent portfolio outflows have weighed heavily on sentiment.So far this year, the rupee is among the worst-performing global currencies, down about 6% against the dollar.
A widening trade deficit, punitive 50% US tariffs and steady investment outflows have dragged the currency to record lows around the 91 level.
