New Delhi, Dec. 3 -- The Indian rupee extended its sharp decline on Wednesday, breaching Rs 90 per dollar mark for the first time and touching a fresh lifetime low in early trade.
On Wednesday, the currency opened weaker and slipped continuously as strong demand for dollars and persistent foreign fund outflows continued to dominate the market.
The slide reflects pressure building over the past week, with overseas investors steadily pulling money out of both equities and debt.
The firm U.S. dollar, combined with global risk aversion, has kept emerging market currencies under stress, pushing the rupee to its weakest level on record.
Importers, particularly in sectors dependent on crude and components also increased dollar buying, adding t...