Indian rupee slips to all-time low of 90.72 against US dollar

The Indian rupee plunged to a record low on Monday (Dec 15) against the US dollar as the uncertainty looms over the India-US trade deal after several rounds of negotiation between both sides and sustained outflow of foreign capital. The rupee slipped 0.2 per cent to touch an all-time low of 90.71, surpassing the previous record of 90.49 on Friday.

The Indian currency emerged as Asia's worst performer this year, having declined by nearly 6% year-to-date against the Dollar due to high US tariffs up to 50 per cent on Indian goods to its biggest export destinations and persistent foreign equity outflow.

According to the forex traders, the rupee is trading under pressure as investors are awaiting clarity on the India-US trade deal and have adopted a wait-and-watch approach.

Foreign investors turned net sellers this year as they have sold Indian stocks worth more than $18 billion so far in 2025, making India one of the worst-hit markets in terms of portfolio outflows. Foreign investors offloaded bonds worth $500 million in December this year.

Also Read: 'China’s first father’ dreams of marrying his 100+ US-born children into Elon Musk’s family

Earlier in the day, Commerce Secretary Rajesh Agrawal said that the government is "very close" to finalising the initial framework deal with the US to lower reciprocal tariffs.

"We are very close on closing the initial framework deal, but I don't want to put a timeline on it," Agrawal said during a briefing.

Also Read: Delhi air crisis: Multiple nations including UK, Canada issue advisory as AQI remains in ‘severe’ category

"We have done six rounds of talks with the US, where we have discussed both the BTA (Bilateral Trade Agreement) as well as an interim deal to lower reciprocal tariffs," he added.