Overview
- The local unit opened at 89.84, touched an intraday low of 89.94, and settled provisionally at 89.86 against the US dollar.
- Exchange data showed foreign institutional investors sold Rs 1,721.26 crore of equities on Wednesday.
- Traders pointed to risk aversion tied to trade-deal uncertainty and sustained capital withdrawals as key drivers of rupee weakness.
- The dollar index was near 98.07 and Brent futures traded around USD 62.41 per barrel, a combination that typically pressures an oil-importing economy.
- Domestic equities fell, with the Sensex closing at 85,041.45 and the Nifty at 26,042.30, after a Thursday market holiday thinned liquidity.