Rupee falls 7 paise to 90.97 against dollar

Mumbai: The rupee depreciated 7 paise to close at a record low of 90.97 against the US dollar on Tuesday, as strong dollar demand from metal importers and persistent foreign fund outflows dented investor sentiment.

Forex traders said rising geopolitical uncertainties, including renewed US expansionary signals, have increased risk aversion and kept emerging market currencies under pressure.

At the interbank forex, the rupee opened at 90.91 and lost ground, touched an intraday low of 91.06, and finally ended the day at an all-time low of 90.97 against the American currency.

Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, was trading 0.91 per cent lower at 98.48.