The rupee has tanked to its lifetime low of 77.11 against the US dollar today as escalating geopolitical risks of the Russia-Ukraine conflict pushed investors to safe-haven assets like gold.
The mounting tensions between the two European nations kept crude oil prices at an elevated level and heightened worries about domestic inflation and wider trade deficits. Continued foreign fund outflows and a relatively less inflow of domestic investors into equities also weighed on investor sentiment.