INR stays pressured beyond Rs 90/$ mark

The Indian rupee stays downbeat around lifetime lows of Rs 90/$ mark in opening trades on Wednesday amid foreign fund outflows from equities and lingering uncertainty over the Indo-US trade deal. INR opened at Rs 89.96 but fell back to hit psychological 90 mark so far during the day. Local equities are also seen commencing on a negative note, further adding pressure on the counter. Yesterday, rupee slumped sharply to hit the psychological 90-a-dollar level in intraday trade before settling 42 paise down at an all-time low of 89.95 against the US dollar. The benchmark BSE Sensex dropped 503.63 points, or 0.59 percent, to 85,138.27, extending losses for a third straight session. The broader NSE Nifty index fell 143.55 points, or 0.55 percent, to 26,032.20. Focus is also glued on RBIs monetary policy that begins discussions today.

 

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