New Delhi, Nov. 24 -- The local currency market is bracing for more weakness in the coming weeks, after the rupee sharply slid to a record low of 89.41 against the US dollar within the last hour of trade on Friday.

While traders expect the Reserve Bank of India (RBI) to step in early next week to push the pair away from the psychologically important 90-mark, economists and treasury officials warn that the broader trend of depreciation remains intact. The 90-mark doesn't seem quite distant now, in the absence of a trade deal.

Market participants attributed Friday's fall to a combination of factors, including the RBI's absence after weeks of defending the 88.8-89 band, cascading stop-loss triggers, persistent US dollar demand from importe...