Mumbai/IBNS, Dec. 26 -- The Indian rupee weakened sharply on Friday, slipping 22 paise to 89.93 against the US dollar in early trade, media reports said.

Analysts attribute the rupee's continued decline to heavy capital outflows by foreign investors, which have kept pressure on the currency.

The weakness is being traced back to April 2025, when US President Donald Trump announced tariffs on Indian goods, raising concerns over exports and the trade balance. The pressure has intensified in December amid a widening current account deficit, analysts said.

Despite intermittent intervention by the Reserve Bank of India (RBI), analysts believe the rupee remains under sustained pressure.

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