Reserve Bank of India Governor Sanjay Malhotra said the rupee depreciation is also based on fears of a widening trade deficit. (Image: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The recent pressure on rupee may come off when India and the United States agree on a trade deal, Reserve Bank of India Governor Sanjay Malhotra said on Thursday.

The rupee has been Asia's worst-performing currency, sinking 3.6% this year, amid souring trade relations between India and the US, and a flight of foreign capital from domestic equity markets.

The Trump administration imposed a 50% tariff on Indian goods in August, half of which is a penalty for the purchase of Russian oil.

Foreign portfolio investors have pulled out over $16 billion from Indian stocks so far this ye

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