Explainer: Why is Indian rupee at record low against dollar
The Indian rupee just hit a record low of 88.44 per US dollar, mostly because oil and gold importers are snapping up dollars, and foreign investors keep pulling money out of Indian stocks.
What does this mean for you?
A weaker rupee means imported goods—especially gold—get pricier.
Over ₹60,000 crore has left the market since July due to foreign portfolio investor outflows.
If you're following global trends or thinking about travel or shopping abroad, this currency dip hits close to home.
What's causing the rupee's drop?
It's a mix of strong demand for dollars, ongoing trade worries (thanks to US tariffs), and steady capital outflows.
Even though other Asian currencies are struggling too—and there's talk of a possible US Fed rate cut—India's drop is notable.
The government is trying to help exporters with GST cuts, but global uncertainty is contributing to the challenges of stabilization right now.