Rupee plunges to new record low 90.56/USD; trade deal uncertainty weighs

• Rupee hit a new record low, depreciating 24 paise to 90.56 against the US dollar in early Friday trade.
• Uncertainty over the India-US trade deal and persistent foreign fund outflows contributed to the rupee's slump.
• Aggressive dollar purchases by importers and surging global precious metal prices also put pressure on the currency.
• The rupee had previously closed at an all-time low of 90.32 against the US dollar on Thursday.
• Domestic equity markets (Sensex, Nifty) were trading higher, despite foreign institutional investors selling equities worth Rs 2,020.94 crore on Thursday.

Why It Matters: A weaker rupee impacts your purchasing power and import costs.