Rupee fell to fresh lifetime low of 91.50 on Wednesday
The Indian rupee fell to a fresh lifetime low of 91.50 on Wednesday due to intense selling pressure and consistent outflow of foreign funds from the Indian capital markets. Foreign institutional investors (FIIs) remained net sellers, offloading equities worth Rs 2,938.33 crore on Tuesday. Rupee sentiments weakened further by tracking global sell-off following renewed trade-war concerns after US President Donald Trump escalated tariff threats on select European nations opposing US control over Greenland, with proposed duties rising from 10% in February to 25% by June. Meanwhile, traders are cautiously eyeing the delayed US PCE inflation report due later this week that could provide more clues on the Federal Reserve's interest rate path.
The partially convertible currency is currently trading at 91.50, weaker by 53 paise from its previous close of 90.97 on Tuesday. The currency touched a high and low of 91.50 and 91.05 respectively.
