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( As on 02/12/2025 09:52)

Rupee hits record low, slips 32 paise to 89.85 against US Dollar

The rupee weakened by 32 paise to hit a fresh all-time low of 89.85 against the US dollar in early trade on Tuesday, pressured by the broad strength of the American currency in global markets and persistent foreign fund outflows.

Forex traders noted that strong dollar demand from corporates, importers, and foreign portfolio investors weighed heavily on the domestic currency. Additionally, elevated crude oil prices further dampened market sentiment.

At the interbank foreign exchange market, the rupee opened at 89.70 per dollar and soon slipped to the record low of 89.85, marking a 32 paise decline from its previous close.