Rupee slides to 90.98, near record lows amid global jitters
Rupee slides to 90.98, near record lows amid global jitters
Rupee weakens to 90.98 per dollar in early trade as import demand and capital outflows weigh, with geopolitics and domestic markets adding to pressure.
The Indian rupee opened in the red, slipping to 90.98 per dollar in early trade as demand from metal importers and persistent foreign fund outflows put pressure on the currency. The move keeps the rupee hovering near its record lows, underscoring how quickly sentiment can shift on global headlines and local market dynamics.
Geopolitical uncertainties, including renewed US trade signals and domestic equity weakness, have lifted risk aversion, pushing investors to park money in dollars. That dynamic absorbs supply from local buyers and lifts FX volatility, making the rupee a focal point for traders and policymakers alike.
Analysts say the pressure could linger in the near term. If flows remain weak and risk appetite stays cautious, the rupee could trade in a wide band near historic low levels, with the exchange rate sensitive to oil prices and policy cues.
Lower crude prices in recent sessions have offered a bit of relief, but the impact is overshadowed by the broader macro backdrop and capital movements. As the country navigates external headwinds, traders are watching central bank signals and liquidity steps for clues on how much cushion remains.
Overall, the latest move adds to a thread of volatility shaping the currency market this year, with every new data point prompting fresh bets on the path of the rupee.
