MUMBAI, Dec 2 Reuters The Indian rupee declined to its weakest level on record on Monday, hurt by concerns about economic growth slowing to its lowest in seven quarters alongside strong dollar bids in the nondeliverable forwards market.

The rupee hit a low of 84.7050 during the session before ending at 84.6950.

The currency weakened 0.2 on the day, its worst single day fall since June 4 when a narrowerthanexpected win for Prime Minister Narendra Modi39;s alliance in the country39;s federal elections had weighed on the local unit.

The rupee has hit a string of record lows over the past two months as a disappointing corporate earnings for the JuneSeptember quarter spurred outflows from local equities and Donald Trump39;s victory in U.S. elections sparked a wave of dollar strength.

Data released after Friday39;s trading session had showed that India39;s economy grew by 5.4 yearonyear in the JulySeptember quarter, markedly lower than expectations, which is likely to add pressure on the Reserve Bank of India RBI for interest rate cuts, which could further weigh on the rupee.

If the INR is broadly wellbehaved and growth is weak, the RBI should be on track to cut rates once the supply shocks fade, Rahul Bajoria, head of India and ASEAN economic research at BofA Securities, said in a note.

The brokerage expects the central bank to keep rates unchanged at its upcoming policy meeting this week, kicking off rate cuts with a 25basispoint cut in February.

Likely intervention…