India, Dec. 16 -- The rupee weakened by 23 paise to close at a new all-time low of 91.01 (provisional) against the US dollar on Tuesday, pressured by sustained foreign fund outflows, the absence of progress on the India–US trade deal, and continued dollar buying.
During the session, the domestic currency slipped as much as 36 paise from its previous close to touch an intraday record low of 91.14, before recovering some losses later in the day. Forex traders said that even a softer US dollar and a sharp fall in global crude oil prices failed to arrest the rupee's decline.
The rupee has depreciated from 90 to 91 per dollar over the last 10 trading sessions and has lost about 1% in the past five sessions alone.
Published by HT Digital...