MUMBAI: The rupee, which has been the worst performing Asian currency so far this year, hit a new low of 90.47 against the dollar Thursday, losing 0.5% and eclipsing its previous all-time low of 90.42 on December 4.

The unit closed at 90.3675, down 0.4% on the day on RBI intervention, and is on course for its worst yearly fall since 2022 weighed down by continuing portfolio outflows and the delay in the trade deal with the US as steep tariffs have begun to eat into exports.

Weakness in the greenback after the rate cut has offered little relief to the rupee, with traders citing dollar demand from foreign and local private lenders, likely tied to merchant payments.

“Many stop-losses got triggered when the rupee hit a new low and the currency is likely to stay in a downtrend in the near-te

See Full Page