Rs. touches 90/$, closes at record low of 89.96

India, Dec. 3 -- The rupee hit the psychological 90-a-dollar level in intraday trade before settling 43 paise down at an all-time low of 89.96 against the US dollar on Tuesday, largely owing to continued short-covering from speculators and sustained importer demand for the American currency. Forex traders said multiple pressures, like foreign fund outflows from equities and lingering uncertainty over the Indo-US trade deal, are keeping investor sentiment fragile. At the interbank foreign exchange market, the rupee opened at 89.70, then lost its ground and fell to a record intraday low of 90.00 against the dollar.P17

Published by HT Digital Content Services with permission from Hindustan Times....