Rupee plunges to new record low 90.87 vs US dollar on FII outflows

• Rupee plunged to a new record low of 90.87 against the US dollar.
• Sustained FII outflows and uncertainty over the India-US trade deal contributed to the rupee's decline.
• A weaker US dollar and declining global crude oil prices helped limit further losses for the domestic unit.
• India's trade deficit narrowed to USD 24.53 billion in November, with exports rebounding and imports dipping.
• Foreign Institutional Investors sold equities worth Rs 1,468.32 crore on Monday.

Why It Matters: Rupee's record low means higher import costs and economic uncertainty for India.