Rupee hits new all-time low of 90.72 vs Dollar with India-US trade deal in limbo

Key Highlights

• Rupee fell to 90.72 vs US dollar, marking a new all-time low.
• Uncertainty over the India-US trade deal is contributing to currency depreciation.
• Foreign institutional investors have net sold over $18 billion in Indian stocks this year.
• The rupee has depreciated by approximately 5.5% against the dollar year-to-date.
• Indian equity benchmarks also dropped due to foreign outflows and trade deal concerns.