By Jaspreet Kalra

MUMBAI, Dec 3 (Reuters) – The Indian rupee fell past the key psychological level of 90 to the dollar on Wednesday, extending an eight-month decline as dollar outflows for trade and investment and a rush by companies to hedge against further weakness pummelled the currency.

The rupeee is one of Asia’s worst performers, having fallen 5% against the dollar year-to-date, as steep U.S. tariffs of up to 50% on Indian goods crimp exports to its biggest market, taking the sheen off its equities for foreign investors.

The rupee’s decline from 85 to 90 took a little under a year, or less than half the time it took to fall from 80 to 85.

In terms of portfolio outflows, India is one of the worst hit markets globally, with foreign investors’ net selling of its stocks amounting to

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