Rupee Recovers from Record Low 90.79 on Improved November Trade Deficit

• Indian Rupee recovered from a record low of 90.79 against the dollar.
• Recovery driven by better-than-expected November trade deficit of $24 billion, below the $29-30 billion estimate.
• Reduced deficit was supported by a significant increase in goods and services exports.
• November merchandise exports surged 19.37% to $38.13 billion, marking the highest in 10 years.
• Rupee initially weakened due to foreign fund dollar demand and FPI selling, prompting RBI intervention.

Why It Matters: Indian Rupee's recovery from record low impacts your financial stability.