Rupee hits new record low: Currency weakens to 90.46 versus US dollar; RBI likely intervened to stem fall

The rupee declined to 90.4675 versus the US dollar, surpassing its previous historic low of 90.42 recorded on December 4.

The Indian rupee tanked to a fresh record low on Thursday, going past the 90 mark versus the US dollar again. The rupee has been depreciating sharply this year, influenced by ongoing challenges on the India-US trade deal front and increased corporate dollar demands.

The Reserve Bank of India (RBI) reportedly stepped in on Thursday to prevent further depreciation of the rupee's value, five traders were quoted as saying by Reuters.