Mumbai: The Indian rupee hit a record low on Thursday, deepening its slide past the 90 per dollar mark, as foreign investors kept pulling out of local stocks and the depreciation bias firmed after a breach of the key psychological level.

The rupee weakened to 90.42, eclipsing its previous all-time low of 90.29 hit on Wednesday.

The rupee is one of Asia’s worst performers, down more than 5% against the dollar year-to-date, as U.S. tariffs of up to 50% on Indian goods have hurt exports to the country’s biggest market while diminishing the appeal of local equities. Show Full Article

The headwinds have coincided with weakness in dollar flows via foreign direct investments and offshore borrowings, keeping the rupee under pressure.

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The fall below the 90 handle on Wedn

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