Indian rupee hits record low ₹96.47 versus US dollar
Business
The Indian rupee just dropped to its lowest ever, hitting 96.47 against the US dollar on Tuesday. That's a big dip, even compared to yesterday's record.
This slide is mostly thanks to high global oil prices, weaker Asian currencies, and rising US bond yields, all putting extra pressure on the rupee.
Rupee down nearly 7% since January 2026
State-run banks were seen selling US dollars, with traders pointing to possible central bank intervention, to try and steady things.
Still, these efforts haven't stopped the rupee from falling further.
Other Asian currencies are struggling too: since January 2026, the rupee has lost nearly 7% against the dollar, and currencies like Thailand's baht and Indonesia's rupiah have also hit record lows.