Rupee Plunges 15 Paise to 89.90 Against US Dollar Amid Fund Outflows

• The Indian Rupee depreciated by 15 paise, trading at 89.90 against the US dollar in early Wednesday trade.
• The fall is attributed to continuous foreign fund outflows and a subdued opening in domestic equity markets.
• Foreign portfolio investors have been consistently offloading Indian equities, impacting the rupee for months.
• Anil Kumar Bhansali of Finrex Treasury Advisors LLP cited US-India trade uncertainties and FPIs pulling out USD 16.5 billion.
• Despite domestic market gains, Foreign Institutional Investors (FIIs) offloaded ₹3,844.02 crore in equities on Tuesday.

Why It Matters: Rupee weakens against dollar due to foreign fund outflows and trade uncertainties.