The Indian rupee extended its decline on Friday (November 21), dropping to an all-time low of 89.48 against the US dollar, as weakening risk sentiment and reduced expectations of a US Federal Reserve rate cut continued to weigh on emerging-market currencies.

The rupee’s latest fall marks a depreciation of nearly 80 paise from Thursday’s close of 88.68.

The currency briefly touched 88.83 in early trade, breaching multiple previous lows, before weakening further on the interbank order-matching platform, where it was last quoted at 89.48.

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. The absence of strong dollar supply from exporters and steady hedging demand fro

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