<h1>Indian Rupee Slides to 85.69 Against US Dollar Amid Strong Dollar, Foreign Fund Outflows, and Low Trading Volumes.</h1> The Indian rupee fell by 5 paise to 85.69 against the US dollar in early trade on January 1, 2025, due to the strong US currency and ongoing foreign fund outflows. The dollar index and US 10-year bond yields are rising, influenced by the Federal Reserve's cautious stance. With US markets closed for the holiday season, low trading volumes are expected. The rupee had previously hit a record low of 85.80 on December 27. Foreign Institutional Investors sold Rs 4,645.22 crore in Indian markets, and the fiscal deficit reached 52.5% of the annual target by November 2024.