Rupee Hits All-Time Low Amid Global Tensions

The rupee slid 61 paise to hit a record low of 91.58 against the US dollar, influenced by foreign fund outflows and tensions with Europe over Greenland. This depreciation reflects broader geopolitical strains affecting market sentiment and asset prices.

In a significant downturn, the Indian rupee slipped 61 paise, reaching an unprecedented low of 91.58 against the US dollar during intraday trading on Wednesday. This slide is attributed to continuous foreign fund outflows amid a globally cautious sentiment.

The pressures stem from rising geopolitical tensions, notably involving Europe and the contentious Greenland issue, with ancillary threats of tariffs exacerbating investor apprehension. This global unease has spilled over into the domestic market, further diminishing investor confidence and market performance.

Adding to the currency's woes, analysts point to geopolitical dynamics overshadowing traditional economic data in shaping asset price fluctuations. The dollar index showed slight weakness, while domestic equity indices also reflected the broader bearish sentiment.

(With inputs from agencies.)