The Indian rupee extended its slide on Thursday to decline to a new low of 90.43 against the dollar as delay in India-US trade deal and continued outflows from foreign portfolio investors (FPIs) from the domestic equity market dampened investor sentiments.

The currency declined 17 paise to open at 99.36, compared to the previous close of 99.19. It plunged to a new low of 90.43 a dollar in early morning trade.

“USD/INR pair remains firmly in its rising channel. It is now testing the upper boundary near 90.30–90.40, signalling strong bullish momentum. Immediate support sits at 89.20, followed by deeper channel support near 88.60. A sustained break above 90.30 could open room toward 90.50 and 91.00, while failure to clear the top may trigger a pullback toward mid-channel levels, said Dipti

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