Rupee records another low, nearing 91 over FPI outflow, US trade deal uncertainty

About a fortnight after breaching the 90 mark, the Indian Rupee is inching towards 91, hitting a fresh all-time low.

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At the time of filing this report, the Rupee was trading at 90.904 per US dollar, with an intraday high of 90.957, just shy of 91.

So far this year, the Indian currency has depreciated by over 5 per cent on a cumulative basis.

Anindya Banerjee, Head Currency and Commodity, Kotak Securities, said, “US-DINR is under pressure from continued FPI outflows across both bonds and equities.”