Rupee stayed under pressure on Wednesday, opening at a record low of 91.07 against the US dollar, down 0.05% from its previous close, before clawing back part of its losses, likely supported by intervention from the Reserve Bank of India (RBI), Reuters reported.The central bank stepped in aggressively to support the currency to its strongest intraday recovery in seven months, after it hit record lows for four consecutive sessions, weighed down by sustained portfolio outflows and an ongoing stalemate in US–India trade talks.After opening slightly weaker at 91.07 against the dollar, the rupee rebounded sharply to trade around 90.25 in early session trade.
Earlier on Tuesday, the domestic currency breached the 91-per-dollar mark for the first time during intraday trade, touching an all-time low of 91.14 before recovering partially to close 15 paise weaker at 90.93. Traders said the decline came despite weakness in the US dollar and a sharp fall in global crude oil prices.Rupee has been under sustained stress in recent sessions. It slipped past the 90-per-dollar level on Monday and has hit fresh record lows for the third straight session, driven by concerns over a prolonged deadlock in India–US trade talks and persistent portfolio outflows. Over the past 10 trading sessions, the currency has fallen from around 90 to 91 against the dollar, losing nearly 1% in just the last five sessions.So far this year, the rupee is among the worst-performing global currencies, down about 6% against the greenback. A widening trade deficit, punitive 50% US tariffs and steady investment outflows have pushed the currency to record lows near the 91 level.
