Rupee Hits New All-Time Low of 90.56 Against US Dollar Amid Trade Deal Uncertainty

The Indian rupee on Friday slipped 24 paise to hit a fresh record low of 90.56 against the US dollar in early trade, pressured by uncertainty surrounding the ongoing India–US trade deal talks and continued foreign fund outflows.

At the interbank foreign exchange market, the rupee opened weak at 90.43 and soon dropped further to 90.56, compared to Thursday’s historic close of 90.32.

Forex traders attributed the decline to aggressive dollar buying by importers, driven by rising global precious metal prices, and persistent concerns over the delayed trade agreement with the visiting American delegation.

Anil Kumar Bhansali, Head of Treasury and ED, Finrex Treasury Advisors LLP, said:

“For the day, the range of 90 to 90.60 should be honoured with a close watch on the RBI. Today is also the last day of talks… we hope a deal is announced after that.”

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Global Market Factors

• Dollar Index edged up 0.02% to 98.37.

• Brent crude futures climbed 0.67% to $61.69 per barrel.

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Domestic Markets

Despite currency market weakness, equities opened strong:

• Sensex rose 170.40 points to 84,988.53

• Nifty gained 98.40 points to 25,996.95

Meanwhile, Foreign Institutional Investors (FIIs) sold equities worth ₹2,020.94 crore on Thursday, exchange data showed.