Rupee slips past 90/USD level

Mumbai, Jan 2: The Indian rupee slipped below the 90-mark and settled the day lower by 22 paise at 90.20 against the US dollar on Friday, amid disappointing macroeconomic data and strengthening of the American currency in overseas markets.

Forex traders said persistent foreign fund outflows and strong dollar demand from importers further dented investor sentiment.

However, weak crude oil prices and a surge in the domestic equities cushioned the downside, they said, adding that any intervention by the RBI may support the rupee at lower levels.

At the interbank foreign exchange, the local unit opened at 89.95 against the dollar, and touched an intra-day low of 90.25 and a high of 89.92 during the session.