Rupee Hits Record Low of 91.99 Against Dollar: 4 Key Reasons for Depreciation

• The Indian Rupee depreciated by 41 paise, reaching an all-time low of 91.99 against the US dollar in the last trading session.
• Continuous outflow of foreign currency and unstable geopolitical situations are major pressures on the domestic currency.
• The 'Adani Factor', with the US market regulator's appeal for summons, impacted both stock and currency markets.
• Foreign Institutional Investors (FIIs) were net sellers, offloading shares worth 2,549.80 crore rupees, contributing to capital outflow.
• Rising Brent crude oil prices (up 1.09% to $64.76 per barrel) increase India's import bill, further weakening the rupee.

Why It Matters: The Indian Rupee hit a record low of 91.99 against the dollar due to foreign outflows, Adani factor, crude oil prices, and geopolitical tensions.