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Rupee falls 17 paise to 90.11 against U.S. dollar in early trade
Rupee slumps 54 paise to all-time low of 90.48 against U.S. dollar in intra-day trade
The rupee plunged 54 paise to an all-time low of 90.48 against the U.S. dollar in intra-day trade on Thursday (December 11, 2025) after reports surfaced that the India-U.S. trade deal is likely by March 2026.
Forex traders said the rupee fell to a new all-time low of 90.48 after Chief Economic Advisor V. Anantha Nageswaran reportedly said the India-U.S. trade deal is likely to be inked by March 2026.
Moreover, prevailing risk-averse market sentiment, compounded by strong U.S. dollar demand from importers, dented investor sentiment.
At the interbank foreign exchange, the rupee opened at 89.95 against the U.S. dollar, then lost ground and fell to a record intra-day low of 90.48, registering a 54-paise decline from its previous close.
On Wednesday (December 10, 2025), the rupee settled at 89.87 against the U.S. dollar.
"Rupee fell to a new all-time low of 90.4825 after Chief Economic Advisor said trade deal is likely by March 2026. Also, Mexico said it will put tariffs up to 50% on goods from Asian countries, including India. Foreign Portfolio Investors (FPIs) also sold debt as yields rose.
"U.S. and Japan far-term yields were also up and not helping the rupee," said Anil Kumar Bhansali, head of treasury and executive director Finrex Treasury Advisors LLP.
Meanwhile, U.S. Trade Representative (USTR) Jamieson Greer has said the U.S. has received the "best" ever offers from India on the proposed trade agreement amid commencement of two-day talks here between the two countries.
Speaking at a Senate Appropriations Subcommittee hearing on Tuesday (December 9, 2025) in Washington, Mr. Greer said there is resistance in India to certain row crops and other meat and products. Row crops in the U.S. include corn, soybeans, wheat and cotton.
These remarks are important as both sides are trying to conclude the first phase of the proposed Bilateral Trade Agreement (BTA).
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.17% lower at 98.61, after the FED cut rates and gave a not-so-hawkish guidance.
Brent crude, the global oil benchmark, was trading 1.17% lower at $61.48 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 443.66 points higher at 84,834.93, while the Nifty was up 141.05 points at 25,899.05.
Foreign institutional investors sold equities worth ₹1,651.06 crore on Wednesday (December 10, 2025), according to exchange data.
Published - December 11, 2025 09:55 am IST
foreign exchange market / economy, business and finance
Source: TheHindu
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