Rupee slide: Uday Kotak links breach of 90-mark to foreign selling; is domestic buying enough to stem the fall?

Veteran banker Uday Kotak points to persistent foreign selling by FPIs and PE funds as the primary driver behind the rupee’s sharp fall past 90 against the dollar. Despite strong domestic investor buying and robust GDP growth, India’s currency is Asia’s worst performer this year, pressured by broad dollar outflows and a widening trade deficit.