Indian rupee sinks to record low of nearly 92 per US dollar

The Indian rupee fell to a record low of nearly 92 against the United States dollar on Thursday, Reuters reported.

The Reserve Bank of India likely intervened to prevent the currency from falling further, with the rupee ending the trade session at 91.95 per dollar, down 0.2% from its previous close, the news agency reported.

It had reached 91.98 per US dollar earlier in the day.

Reuters quoted unidentified traders as saying that the central bank had likely sold US dollars before the Indian spot market opened on Thursday to support the rupee, after the non-deliverable forward markets signalled a potential breach of the 92-per-dollar level.