Rupee-Dollar slips to all-time low on risk-aversion stoked by Greenland dispute

The rupee slipped past its previous record low of 91.0750/dollar at open, falling about 0.24% to 91.19 on the day.

The Indian Rupee slipped to an all-time low against the US Dollar today as risk-aversion linked to Trump's Greenland tantrums compounded existing pressures on the currency.

The rupee is the weakest currency in Asia, versus the US dollar. (Reuters)

The rupee slipped past its previous record low of 91.0750/dollar at open, falling about 0.24% to 91.19 on the day. In recent sessions, the Reserve Bank of India has intervened through dollar sales in the currency market to support the rupee, but there was no clarity yet on a similar move today.

Rupee hits a new record low against the US dollar. (HT/Bloomberg)

“The rupee is getting hit by global uncertainties due to geopolitical developments, in addition to idiosyncratic issues like the US trade deal and capital outflows,” Madhavi Arora, lead economist at Emkay Global Financial Services Ltd., said in an emailed statement.

Foreign investors have pulled $2.7 billion from Indian equities this month, after about $19 billion of outflows last year. A delay in finalising of an India-US trade deal is also hurting sentiment.