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Below the Quote on Rupee 03rd December 2025 from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities

"Rupee slipped below the 90-mark for the first time, pressured by the absence of a confirmed India–US trade deal and repeated delays in timelines. Markets now want concrete numbers rather than broad assurances, leading to accelerated selling in the rupee over the past few weeks.

Record-high metal and bullion prices have further worsened India’s import bill, while steep U.S. tariffs continue to strain export competitiveness. This has kept weakened sentiment across equities compared to global markets and import-heavy sectors such as mineral fuels, machinery, electrical equipment, and gemstones.

Muted RBI intervention has also contributed to the swift depreciation. With the RBI policy announcement on Friday, markets expect clarity on whether the central bank will step in to stabilize the currency. Technically, the rupee is deeply oversold, and a move back above 89.80 is essential for any meaningful recovery."

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