Rupee slide continues: INR hits all-time low of 90.32 against dollar; US-India trade-deal delays and dollar demand weigh

Rupee slide continues: INR hits all-time low of 90.32 against dollar; US-India trade-deal delays and dollar demand weigh

The rupee closed at a new all-time low of 90.32 against the US dollar on Thursday, sinking 38 paise, as uncertainty around the India-US trade deal and continued foreign fund outflows pressured the currency, PTI reported.The local unit opened at 89.95, weakened further through the session and hit a record intra-day low of 90.48, before…

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Rupee slide: Uday Kotak links breach of 90-mark to foreign selling; is domestic buying enough to stem the fall?

Rupee slide: Uday Kotak links breach of 90-mark to foreign selling; is domestic buying enough to stem the fall?

Veteran banker Uday Kotak on Wednesday said the rupee’s fall past the 90-per-dollar mark reflects persistent selling by foreign portfolio investors (FPIs) and private equity funds routing money through the FDI channel, even as domestic investors continue to buy into the market, ET reported. His comments came as the currency extended its eight-month decline against…

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