Mumbai, Dec 12 || The rupee fell to a new record low in early trade on Friday, slipping 24 paise to 90.56 against the US dollar.
The currency came under pressure as uncertainty around the India-US trade deal and continued foreign fund outflows hurt market sentiment.
According to forex traders, the rupee is weakening mainly because importers are aggressively buying dollars amid rising global prices of precious metals.
The strong demand for the US currency is adding to the pressure on the rupee.
At the interbank foreign exchange market, the rupee opened at 90.43 against the dollar and soon dropped to 90.56.
This marked a 24-paise decline from Thursday’s closing level. A day earlier, the rupee had already tumbled 38 paise to end at a then-record low of 90.32.