Rupee hits another low! Currency slumps to 90.43 against US dollar; what it means

The Indian rupee hit a record low of 90.43 against the US dollar, marking its fastest decline in under a year. This depreciation is driven by foreign portfolio investment withdrawals, trade deficits, and a strong dollar, despite RBI interventions. However, the government remains optimistic about currency improvement and foreign direct investment inflows next year.