INR slumps amid weak global sentiments

The Indian rupee depreciated 25 paise to close at 86.56 (provisional) against the US dollar on Tuesday, as global risk sentiments were dampened amid tariff threats by the US President Donald Trump. The domestic currency continued to face pressure due to sustained foreign fund outflows and the strength of the American currency in the overseas market amid unabated dollar demand from oil importers and weak risk appetite. At the interbank foreign exchange, the rupee opened on a weak note at 86.53, and during the day touched a high of 86.50 and a low of 86.57 against the American. Meanwhile, Indian shares recovered some ground on Tuesday after two straight sessions of losses following escalating tariff threats from U.S. President Donald Trump and amid concerns over a Chinese AI startup's apparent advances in the artificial intelligence sector. The benchmark S&P/BSE Sensex hit an intraday high of 76,512.96 before paring some gains to end the session up 535.24 points, or 0.71 percent, at 75,901.41. The broader NSE Nifty index closed up 128.10 points, or 0.56 percent, at 22,957.25, after hitting a high of 23,137.95 earlier in the session.

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