Rupee ends fiscal 2026 at ₹94.83, nearly 10% down
Business
The Indian rupee weakened nearly 10% in fiscal 2026. It hit a yearly high of ₹83.75 on May 2, 2025, before closing at ₹94.83 against the US dollar.
According to the RBI, this was mostly because of global trade uncertainties, a growing trade deficit, ongoing Iran-US tensions, and steady outflows from foreign investors.
RBI manages FX, promotes rupee trade
To calm the chaos, RBI stepped in by managing foreign exchange markets and encouraging more trade in rupees through Special Rupee Vostro Accounts and local currency deals.
They also worked on making cross-border payments smoother.
Thanks to these efforts, with $691 billion in reserves, the RBI aimed to keep things stable for India's economy during a pretty unpredictable year.