NEW DELHI, Jan. 23 (Xinhua) -- The Indian rupee on Friday hit a new low, closing at nearly 92 against the U.S. dollar.

This marked the currency's steepest weekly decline in six months.

A money changer shows the currency notes at a money exchange shop in New Delhi, India, on Sept. 13, 2018. (File photo: Xinhua)

Analysts attributed this drop primarily to persistent foreign outflows and hedging activities by importers.