INR slides to record low amid rising geopolitical and tariff tensions

The Indian rupee depreciated 7 paise to close at a record low of 90.97 (provisional) against the US dollar on Tuesday, as strong dollar demand from metal importers and persistent foreign fund outflows dented investor sentiment. The domestic unit slipped to a record low beyond Rs 91 per dollar mark briefly during the day before recovering back below the level. Rising geopolitical uncertainties, including renewed US expansionary signals, have increased risk aversion and kept emerging market currencies under pressure. Moreover, a sluggish domestic stock market triggered by sustained foreign capital outflow further weighed on the local unit. Local shares tumbled on Tuesday, with benchmark indexes Sensex and Nifty falling for a second straight session amid rising geopolitical and tariff tensions. The BSE Sensex slumped 1,065.71 points, or 1.28 percent, to 82,180.47 while the broader NSE Nifty index ended down 353 points, or 1.38 percent, at 25,232.50.

 

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