New Delhi: The Indian rupee slipped to an all time low of 92 against the US dollar during intraday trade on Friday before recovering slightly to close at a record low of 91.88, reflecting sustained pressure from foreign fund outflows and weak sentiment across domestic and global markets.
The currency opened at 91.45 and briefly strengthened to an intraday high of 91.41 in early trade. However, the gains were short lived as selling pressure intensified, dragging the rupee to a historic low of 92.00 during the session. It eventually settled at 91.88, marking a decline of 30 paise from the previous close.
Market participants pointed to continued withdrawals by foreign investors, a sharp decline in Indian equities and rising global uncertainty as key factors weighing on the rupee. Higher crude oil prices further added to the pressure, increasing concerns over India’s import bill. At the same time, elevated US treasury yields strengthened demand for the dollar, making emerging market currencies less attractive.
The rupee had shown a brief recovery in the previous session, ending 7 paise higher at 91.58 after bouncing back from record low levels. The earlier all time low close of 91.65 was recorded on January 21, when the currency had witnessed a steep single day fall.
So far this month, the rupee has depreciated by nearly 200 paise, translating to a decline of over two percent. The downward trend follows a difficult 2025, during which the currency lost around five percent amid persistent foreign fund outflows and sustained dollar strength in global markets.
On the global front, the dollar index remained firm, hovering near 98.36, while Brent crude prices rose to around USD 64.72 per barrel, adding to inflationary and currency concerns for oil importing economies like India.
Domestic equity markets also mirrored the weak sentiment. The Sensex dropped nearly 770 points to close at 81,537.70, while the Nifty fell over 241 points to settle at 25,048.65. Foreign institutional investors continued to remain net sellers, further dampening confidence.
Market expectations suggest the rupee may remain under pressure in the near term, although a softer dollar or intervention by the central bank could offer some support at lower levels.
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