The Indian rupee slipped to a record low on Thursday, deepening its slide past the 90 per dollar mark as the absence of a trade deal with the U.S. continued to weigh and corporate dollar outflows added to the pressure.
The rupee weakened to 90.4675 against the U.S. dollar, eclipsing its previous all-time low of 90.42 hit on December 4.
On Thursday, the central bank likely intervened to help the rupee avert steeper losses, five traders told Reuters.
One of the traders characterised the central bank’s intervention as mild and likely intend to slow the rupee’s fall instead of holding it at a specific level.
