The Indian rupee plunged to a fresh low of **₹89.49 per US dollar**, the steepest single-day drop in months, as portfolio outflows surged and uncertainty over a US-India trade deal weighed. The slide came as the Reserve Bank of India appeared to allow the currency to breach previously defended levels, raising concerns over India’s external financing and trade-deficit outlook. Analysts warn that without a clear trade-deal breakthrough and intervention, the rupee may face ongoing pressure, impacting inflation and import costs.