INR briefly hits Rs 92 per dollar before edging higher at close; All Eyes on Union Budget

The Indian rupee on Friday hit its record low of 92.02 before ending slightly higher at 91.90 against the US dollar, amid a firm American currency and volatile geopolitical cues. Sustained withdrawal of foreign funds and a negative trend in domestic equities weighed on investor sentiment. At the interbank foreign exchange, the rupee opened at 91.89 and gained ground, touching 91.82 against the greenback during intraday trade. The currency touched its lowest-ever level of 92.02 against the dollar. Indian shares ended lower on Friday, with tariff worries, speculation about a potential hawkish Federal Reserve chair appointment and caution ahead of the Union Budget keeping investors on edge. The benchmark BSE Sensex dropped 296.59 points, or 0.36 percent, to 82,269.78, pressured by a weak rupee and rising oil prices amid rising U.S.-Iran tensions. The broader NSE Nifty index slipped 98.25 points, or 0.39 percent, to 25,320.65.

 

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