INR sinks to record low, breaks 89 per US dollar mark

The Indian rupee saw hefty losses amid weak equities and lack of clarity on US-India trade deal. INR tested to an all-time low of 89.60 per US dollar. Firm US dollar also weighed as markets eyed reduced expectations of a US Federal Reserve rate cut in coming weeks. INR lost 89 paise to quote at 89.59 per US dollar. Meanwhile, the domestic equity indices ended with substantial losses, snapping a two-day gaining streak, amid weak global cues. The Nifty ended below the 26,100 level.

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