Rupee hits record low, pressured by persistent outflows and NDF maturities

The Indian rupee hit a new all-time low for the fourth straight day, reaching 90.82. This decline is driven by dollar demand from maturing positions in the non-deliverable forwards market and ongoing portfolio outflows. The rupee’s significant 6% drop against the dollar this year makes it one of the worst-performing emerging market currencies globally, impacted by U.S.