Rupee hits new low of 90.58 vs US dollar amid trade deal uncertainty

• Rupee depreciated 9 paise to an all-time low of 90.58 against the US dollar in early Monday trade.
• The fall is attributed to uncertainty over an India-US trade deal and persistent foreign fund outflows.
• The rupee had previously closed at an all-time low of 90.49 against the American currency on Friday.
• Domestic equity markets (Sensex, Nifty) were trading lower, and Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday.
• FPIs continue selling in equity and debt, while RBI has been selling dollars.

Why It Matters: Rupee's record low against the dollar signals economic pressure for India.