Rupee sinks to record low 90.78 vs US dollar; trade talks, FPI selling weigh

• Rupee weakened to a new record low of 90.78 against the US dollar.
• The decline is attributed to the US-India trade negotiation stalemate and persistent foreign selling of local equities and bonds.
• The rupee's year-to-date decline has extended to approximately 6%.
• The Reserve Bank of India has intervened to slow the rupee's slide, but its support has appeared less forceful recently.
• Attention is now on the RBI's 3-year dollar-rupee buy/sell swap auction scheduled for Tuesday.

Why It Matters: Record low Rupee impacts India's economy, trade, and investor sentiment.