The Indian rupee reached a historic low of Rs 89.71 against the US dollar on Friday, marking a depreciation of 103 paise from Thursday’s close at Rs 88.68. The currency briefly touched Rs 88.83 in early trade and accelerated its fall after breaching the 88.80 threshold, a level previously supported by Reserve Bank of India (RBI) interventions. Traders said the rupee’s slide accelerated after it broke past the long-defended 88.80 level, with the Reserve Bank of India appearing to scale back its recent interventions. Later, the currency was trading 1% lower against the US dollar at Rs 89.61. Advertisement

The currency tumbled on weakening risk sentiment and falling expectations of a US Federal Reserve rate cut post better than expected jobs reports continued to affect the emerging-marke

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