Rupee hits fresh record low of 90.42/Dollar ahead of RBI monetary policy

The Indian Rupee has slipped to another record low against the US Dollar, a day before the Reserve Bank of India spells out its latest monetary policy decision.

The rupee weakened to 90.42 against the U.S. dollar, eclipsing its previous all-time low of 90.29 hit on Wednesday. (Bloomberg)

The rupee weakened to 90.42 against the US dollar, eclipsing its previous all-time low of 90.29 hit on Wednesday, as foreign investors continued to pull out of local stocks in the absence of a India-US trade deal.

The rupee is one of Asia's worst performers, having fallen more than 5% against the dollar year-to-date, as steep US tariffs of up to 50% on Indian goods hurt exports to its biggest market.