Rupee plunges to record 90.33 vs US dollar on trade deal uncertainty

• The Indian rupee plunged 39 paise to close at an all-time low of 90.33 against the US dollar on Thursday.
• Uncertainty over the India-US trade deal, risk-averse market sentiment, and sustained foreign fund outflows were cited as reasons for the rupee's decline.
• Forex traders expect the rupee to maintain a negative bias due to the delayed trade deal, though central bank intervention could offer support.
• US Trade Representative Jamieson Greer mentioned "best" ever offers from India on the proposed trade agreement, despite resistance to certain US agricultural products.
• Despite the rupee's fall, domestic equity markets saw gains, and the dollar index was lower after the FED cut rates.

Why It Matters: Rupee's record low impacts import costs and economic stability.