The Indian rupee on Friday slipped to a record low of 92.02 against the US dollar during intraday trade before recovering slightly to close at 91.97, posting a marginal gain of 2 paise amid a strong American currency and volatile geopolitical cues.
Forex market participants said continued foreign fund outflows and weakness in domestic equity markets weighed on sentiment, limiting any meaningful recovery in the rupee.
In the interbank foreign exchange market, the rupee opened at 91.89 and strengthened to an intraday high of 91.82 against the greenback. However, persistent pressure later in the session dragged the currency to its all-time low of 92.02, before it trimmed losses to end the day slightly higher.