<h1>Rupee Hits Record Low Above 89 Amid Trade Deal Uncertainty, Global Risk-Off Mood and IT Stock Selloff</h1> The domestic currency recorded its steepest fall in over three months, breaching 89 per US dollar for the first time and closing at an all-time low of 89.61 amid global risk-off sentiment, trade-related uncertainties, and heavy selling in IT stocks. Market participants cited lack of clarity over a proposed India-US trade deal and tariffs imposed by the US administration as key factors affecting sentiment and driving dollar demand. The central bank governor reiterated that the authority does not target a specific exchange rate level and attributed depreciation to market-driven dollar demand, while expressing confidence that a future favourable trade agreement with the US could ease current account pressures.