Rupee hits fresh record low of 90.56 against US Dollar

The Indian rupee hit a new record low on December 12, as sentiment remained bogged down by the absence of a trade deal with the US. Also, a stronger dollar and persistent foreign outflows kept pressure on the domestic currency.

The rupee weakened to 90.56 against the US dollar, slipping past its previous all-time low of 90.4675 hit on December 11. The currency was last at 90.4650, down 0.1% on the day.

At the interbank foreign exchange, the rupee opened at 90.43 against the US dollar, then fell further to 90.56 against the greenback, registering a fall of 24 paise from its previous close. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.02 per cent higher at 98.37.

Forex traders said rupee is under pressure largely du