INR battered as breach beyond Rs 90 per dollar mark stays

The Indian rupee continues to loiter beyond the 90-a-dollar level in opening trades on Thursday, after having breached the level for the first time ever to settle at a fresh all-time low of 90.21 yesterday. INR opened at Rs 90.36 per dollar and slipped to a low of 90.43 so far during the day. Sustained foreign fund outflows, higher crude oil prices, uncertainty over the India-US trade deal, along with the lack of Reserve Bank of India (RBI) effort to stop the slide in the local unit, is adding further pressure on the local unit. Indian shares also recouped early losses to end marginally lower on Wednesday. The benchmark BSE Sensex hit an intraday low of 84,763 before recovering to close down 31.46 points, or 0.04 percent, at 85,106.81 - extending losses for a fourth consecutive session. The broader NSE Nifty index ended down 46.20 points, or 0.18 percent, at 25,986, after having fallen to a low of 25,891 earlier.

Powered by Capital Market - Live News