Rupee Plunges to 90.87, Records Biggest Single-Day Fall in Two Months

• The Indian rupee closed at 90.87 against the US dollar on Friday, marking its largest one-day decline in nearly two months.
• The currency's depreciation was driven by continuous foreign fund outflows and a strong US dollar, impacting emerging market currencies.
• Earlier in the week, the rupee had already seen declines, closing at 90.34 on Wednesday after an 11-paise fall.
• Jateen Trivedi of LKP Securities attributed the sharp 48-paise weakening to capital market weakness and uncertainty over the India–US trade deal.
• The rupee is projected to trade within the 89.75–91.45 range, with market attention on the Fed's policy outlook in late January.

Why It Matters: The Indian rupee experienced its largest single-day fall in two months, closing at 90.87 against the US dollar.