Rupee crashes to record low of 92.89 against US dollar amid FII outflows

• The rupee slumped 49 paise to close at a record low of 92.89 against the US dollar on Wednesday.
• Stronger greenback and sustained FII outflows contributed to the rupee's decline.
• Elevated crude oil prices and intensifying conflict in West Asia further dampened sentiments.
• The local unit opened at 92.42 and traded between 92.41-92.89 before closing at its record low.
• Foreign institutional investors sold equities worth Rs 2,714.35 crore on a net basis.