India, Dec. 12 -- The rupee slipped to a new record low, weakening by 24 paise to 90.56/USD in early Friday trade. Sentiment was weighed down by uncertainty surrounding the India–US trade deal and continued foreign fund outflows.
According to forex traders, pressure on the currency intensified as importers stepped up dollar purchases amid rising global precious metal prices. The rupee opened at 90.43 at the interbank forex market before extending losses to its current level of 90.56, marking a sharp decline from the previous close.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....