The Indian rupee tumbled 72 paise to close at a record low of 91.70 against the dollar on Wednesday, on rising geopolitical tensions, uncertainty over India-US trade deal and continued outflows from foreign investors from domestic equities. The currency opened weak at 91.08 on Wednesday before plunging to an all-time low of 91.75 during intraday trades. It recovered slightly to close the session at 91.70 compared to the previous close of 90.98. “USD/ INR has surged to record highs near 91.70, driven by a combination of sustained FPI outflows, adverse global risk sentiment stemming from geopolitics and US–India trade frictions, and a slowdown in exporter dollar conversions even as importer hedging demand remains strong,” said Anindya Banerjee, head of commodity and currency research, Kotak Securities. So far in January, FPIs have sold Indian equities worth Rs 30,345 crore. In 2025, they pulled out Rs 1.66 lakh crore. A sharp rally in bullion prices has further pressured the rupee by inflating the import bill. Forex market participants said that the Reserve Bank of India’s (RBI) intervention …