Rupee closes at historic low; touches 90/US dollar

Rupee briefly breached 90 before settling at 89.96 as foreign fund outflows and Indo-US trade-deal uncertainty pressured sentiment

- 

The rupee hit the psychological 90-a-dollar level in intraday trade before settling 43 paise down at an all-time low of 89.96 against the US dollar on Tuesday, largely owing to continued short-covering from speculators and sustained importer demand for the American currency.

Forex traders said multiple pressures, like foreign fund outflows from equities and lingering uncertainty over the Indo-US trade deal, are keeping investor sentiment fragile.