Rupee dips below 90 against US dollar—here's what's up

Business Jan 03, 2026

The Indian rupee dropped to 90.20 against the US dollar on Friday, slipping past the key 90-mark for the first time in two weeks.
This happened mainly because oil importers needed more dollars and there wasn't much cash flowing in the market.
For anyone keeping score, that's a 23 paise fall from Thursday's close.

What happens next? RBI in the spotlight, plus impact on your wallet

Public sector banks tried to steady things by selling dollars early on, but demand quickly picked up again.
Now, all eyes are on the Reserve Bank of India (RBI) to see if they'll step in with currency swaps or other moves to calm things down.