The Indian rupee continued its downward slide on Tuesday, closing at a historic low against the US dollar. The currency ended the session at 90.97, marking a decline of 7 paise from its previous close.
Rupee's Intraday Performance
At the interbank foreign exchange market, the rupee opened the day at 90.91. It quickly lost ground as trading progressed. The currency touched an intraday low of 91.06 during the session. This movement reflects ongoing pressure in the foreign exchange markets.
Factors Behind the Decline
Market analysts point to several factors contributing to the rupee's weakness. Global economic uncertainties and domestic market conditions are playing a role. The provisional closing figure of 90.97 underscores the persistent challenges facing the currency.
Investors are closely monitoring these developments. The rupee's performance against the dollar is a key indicator of economic health. Further volatility may be expected in the coming days as markets react to new data.
