The Indian rupee fell sharply ahead of the India-EU trade deal, reaching a record low of 91.99 against the dollar.

News Topical, Digital Desk : Indian Rupee Hits All Time Low Against dollar Just a few days before the India-EU Trade deal, the Indian rupee has suffered a major setback. The Indian rupee fell by 41 paise in intraday trade on Friday to a record low of 91.99 against the US dollar . This decline was due to continued foreign fund outflows and the unstable geopolitical situation, keeping investors cautious.

Forex traders said the Reserve Bank of India's intervention is helping to reduce volatility to some extent, but it is not reversing the overall negative trend for the domestic currency.

Rupee falls due to India US Trade Deal not happening yet?

Furthermore, the pending trade deal with the US remains a key stabilizing factor for the currency. He added that until geopolitical risks ease and a trade agreement is reached, the rupee is likely to remain vulnerable to external shocks.

At the interbank foreign exchange, the rupee opened at 91.45 against the US dollar. In early trade, it hit an initial high of 91.41 but soon pared gains, hitting a record low of 91.99, registering a fall of 41 paise from its previous close.

The rupee on Thursday recovered from its all-time low and closed 7 paise higher at 91.58 against the US dollar.

Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was trading 0.03 per cent higher at 98.38.

Brent crude, the global oil benchmark, was trading 1.09 per cent higher at USD 64.76 per barrel in futures trade.

Talking about the domestic stock market, the Sensex fell 797.94 points to 81,509.43, while the Nifty fell 240.55 points to close at 25,049.35.

Foreign institutional investors sold shares worth Rs 2,549.80 crore on Thursday, according to exchange data.

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