India, Jan. 2 -- The Indian rupee slipped past the 90-per-dollar level and closed 22 paise lower at 90.20 (provisional) against the US dollar on Friday, pressured by weak macroeconomic cues and a stronger greenback in overseas markets.
Forex traders said continued foreign fund outflows and firm dollar demand from importers weighed on the domestic currency.
However, losses were partly capped by soft crude oil prices and a recovery in domestic equity markets. Market participants added that possible intervention by the Reserve Bank of India could provide support to the rupee at lower levels.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....