India's largest private lender sees rupee falling to 92 in absence of quick US trade deal

HDFC Bank's head of treasury, Arup Rakshit, warns that the Indian rupee could fall to 92 per dollar if a U.S.–India trade deal is not reached soon. The rupee has already hit a record low of 90.42, driven by a widening trade gap and weak investment flows. Economists expect the current account deficit to worsen, and foreign investors have pulled $17 billion from local stocks this year. The Reserve Bank of India's upcoming monetary policy decision is also being closely watched.