Rupee hits record low, forward premiums surge on weakening bias

Key Highlights

• The rupee fell to 90.42, breaking its prior record low of 90.29.
• Year-to-date, the rupee has depreciated over 5% against the dollar.
• Foreign investors are pulling out from local stocks, impacting the rupee's value.
• The decline is compounded by U. S. tariffs on Indian goods affecting exports.
• Speculation is expected to rise following the breach of the 90 mark.