Rupee Hits New Low of 91.08 Against Dollar Amid Trade Deal Uncertainty, RBI Intervenes

• The Indian rupee opened at a new record low of 91.076 against the US dollar on December 17, continuing its downward trend.
• Persistent demand for the dollar, an elusive US trade deal, and foreign investor selling are cited as primary reasons for the depreciation.
• The Reserve Bank of India (RBI) likely intervened, helping the currency recover some losses to trade at 90.3538 by 9:24 am.
• Experts like Amit Pabari and Anil Kumar Bhansali predict continued pressure, with the rupee potentially heading towards 92 due to trade deal uncertainty.
• The rupee is currently the worst-performing Asian currency this year, having depreciated by 5.97 percent.

Why It Matters: Rupee hits record low of 91.08 against dollar; trade deal uncertainty and foreign selling persist.