Rupee Plunges to New Record Low of 91.05 Against US Dollar

• Rupee hit a new record low of 91.05 against the US dollar on December 16.
• The slide is attributed to persistent capital outflows, a widening trade deficit, and uncertainty regarding the India-US trade deal.
• The currency depreciated from 90/$ to 91/$ in five sessions, losing 2% in the last month.
• Traders are monitoring the upcoming USD/INR Buy/Sell Swap auction, which could help the RBI manage volatility.

Why It Matters: Rupee's record low signals economic instability and impacts your finances.