As corporate dollar sales and the lack of any progress toward a trade agreement with the US weakened Asia’s worst-performing currency, the Indian rupee fell to a record low on Thursday (Dh24.53), widening its slump past the 90-per-dollar level.
Due to US tariffs of up to 50% on Indian goods, which have damaged exports to the nation’s largest market and reduced the appeal of local stocks, the rupee has dropped more than 5% versus the dollar in 2025. India is among the worst-hit markets for portfolio outflows, with foreign investors withdrawing nearly $18 billion from Indian stocks so far this year.
In relation to the US dollar, the local currency dropped to 90.4675 on Thursday, surpassing its previous record low of 90.42 on December 4. It ended the day down 0.4%, closing at 90.3675.
According to five merchants, the Reserve Bank of India probably stepped in to help prevent more severe losses. Rather than keeping the rupee at a particular level, one dealer described the intervention as light and meant to delay the decline. As the nation’s external sector faces numerous challenges, the RBI will accept a weaker rupee, Reuters reported last week.
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