INR extends slide to fresh lows amid weak market sentiments

The Indian rupee extends slide against the dollar in opening trades on Tuesday amid muted equities and sustained foreign fund outflows. Uncertainty over an India-US trade deal is also seen pressurizing the counter. INR opened at fresh record low of Rs 90.87 per dollar but recovered slightly to a high of 90.78 so far during the day. Yesterday, rupee slumped sharply to hit fresh lifetime low levels of 90.80 before settling at a fresh all-time low of 90.74 (provisional) against the US dollar, registering a loss of 25 paise over its previous close. Besides, prevailing risk-averse market sentiment, compounded by strong US dollar demand from importers, further dented investor sentiment. The benchmark S&P/BSE Sensex ended down by 54.30 points at 85,213.36, snapping a two-day rally. The broader NSE Nifty index slid 19.65 points to close at 26,027.30.

Powered by Capital Market - Live News