INR hits all-time low of 92 during intraday moves; Local shares end deep in red

The Indian rupee hit an all-time low of 92 on Friday and recovered marginally to settle at 91.88 (provisional) against the American currency, amid selling pressure from foreign funds and risk-off sentiment in global markets. The domestic currency gave up early gains and hit a record low of 92.005 per US dollar in intraday trade due to weak domestic markets and persistent foreign fund outflows. Moreover, gains in crude oil prices and a surge in US treasury yields weighed on the rupee. At the interbank foreign exchange, the rupee opened at 91.45 and then gained ground to touch an intraday high of 91.41 against the greenback. It touched an all-time intraday low of 92.00 before settling for the day at a record closing low of 91.88 (provisional), down 30 paise from its previous closing level. The benchmark BSE Sensex ended down 769.67 points, or 0.94 percent, at 81,537.70 while the broader NSE Nifty index slumped 241.25 points, or 0.95 percent, to 25,048.65.

 

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