The Indian rupee once fell to a record low, with trade uncertainty and capital outflows putting pressure on market sentiment.

The Indian rupee fell to a record low against the US dollar, as local assets continued to see sustained outflows of funds and a trade agreement with the United States remained elusive, weighing on market sentiment. The US dollar/Indian rupee briefly rose 0.1% on Tuesday to 90.8250, reaching a record high. Foreign investors have sold nearly $18 billion worth of Indian stocks so far this year. According to clearinghouse data, they also sold $1 billion worth of bonds that meet the country's index inclusion criteria in December, potentially ending a five-month buying trend.