The fall is largely due to weak foreign capital flows

Indian rupee hits record low of 91.99 against US dollar

By Mudit Dube

Jan 29, 2026

09:32 am

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What's the story

The Indian rupee has hit a new low, falling to 91.99 against the US dollar on Thursday. The fall is largely due to weak foreign capital flows and corporate hedging activities. Despite a strong domestic economy, these external factors have pushed the currency down nearly 5% since President Donald Trump imposed heavy tariffs on India's merchandise exports to the US.

Intervention

RBI likely intervened to stabilize rupee

As the rupee neared the psychologically important 92 mark, the Reserve Bank of India (RBI) is believed to have stepped in. The intervention was likely aimed at preventing further depreciation of the currency. This highlights RBI's commitment to maintaining currency stability amid global pressures and uncertainties.