Market News
India rupee risks steeper fall past 90 without central bank help - REUTERS
Summary
- The rupee down 5.3% year-to-date, on track for steepest annual decline since 2022
- Not losing sleep over INR weakening, India Chief Economic Adviser says
- HDFC Bank expects INR to hover in 92-93 range next quarter
MUMBAI, Dec 3 (Reuters) - The Indian rupee fell past 90 per U.S. dollar to a record low on Wednesday, declining for the sixth consecutive session as traders bet subdued trade and portfolio flows will keep Asia's worst performer under pressure without central bank intervention.
The rupee fell to a record low of 90.29 per U.S. dollar, eclipsing its previous low hit a day earlier. It was last quoting at 90.11, down 0.3% from the previous close.
