Rupee Hits Fresh Record Low of 90.14 Amid Trade Deal Uncertainty

The Indian rupee hit a fresh record low against the US dollar on Dec 3, slipping to 90.14 per US dollar amid concerns over weak trade flows, foreign investor selling and uncertainty around the India–US trade deal.

The Indian currency, down 0.22% on the day, briefly recovered to 90.07 but remained headed for its sixth consecutive session of losses.

The latest depreciation has been driven by concerns over a possible delay in an India–US trade deal, sustained selling by foreign portfolio investors and the initial absence of strong intervention from the Reserve Bank of India in the forex market, reported by Reuters.

So far in 2025, the rupee has fallen nearly 5%, putting it on track for its biggest annual drop since 2022 and making it the worst-performing Asian currency this year, according to Reuters.

The weakness is not limited to the U.S. dollar. Between November 21 and 28, the rupee also declined against other major currencies — from 102.32 to 103.63 against the euro, 116.08 to 118.27 against the British pound, and 0.5642 to 0.5720 against the Japanese yen — according to The Indian Express.