he Indian rupee slumped to a record low of 90.37 against the US dollar on Thursday, weighed down by strong demand for the American currency from importers.

The rupee lost 39 paise to close at a fresh all-time low of 90.37, compared to the previous close of 89.98. It fell to a new record low of 90.49 during intraday trades. In the current financial year, the rupee has depreciated 5.74 per cent.

“Surging global prices for precious metals enforced metal importers into rush for dollars, creating immense pressure. The rupee’s depreciation was exacerbated amid likely limited intervention from the central bank to stabilise the market,” said Dilip Parmar, Research Analyst at HDFC Securities.

Forex market participants said that the Reserve Bank of India (RBI) intervened in the market at around 9

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