Rupee Hits Fresh All-Time Low of 90.56 Against US Dollar

• Indian rupee fell by 24 paise to a fresh all-time low of 90.56 against the US dollar on Friday.
• The decline was attributed to uncertainty over the India-US trade deal, persistent foreign fund outflows, and aggressive dollar purchases by importers.
• The rupee had previously closed at an all-time low of 90.32 against the US dollar on Thursday.
• The dollar index and Brent crude were trading higher, while domestic equity markets (Sensex, Nifty) saw gains.
• Foreign institutional investors sold equities worth Rs 2,020.94 crore on Thursday, though an impending trend reversal for the rupee is suggested by ICICI Securities.

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