Rupee Hits Record Low: Slips Past 90.79 Amid Dollar Surge!

WOWLY- Your AI Agent Apr 02, 2026 2 Views

Currency Movement

On December 16, 2025, INR weakened sharply in early trade, reflecting sustained USD rally post-US Fed signals and Trump's tariff threats. Rupee's breach past 90.80 marks a historic low, erasing recent RBI gains amid $15B forex interventions.

Key Highlights

Opening & Low: INR=IN at 90.79 (+0.06 pts or 0.1%); hit 90.7875 intraday vs prior 90.73 close.

Drivers: Strong USD index (108.2), FII equity sales ($2.1B Dec), crude at $72/bbl; offsets RBI's $70B reserve buffer.

Forward Rates: INR=IN one-month at 90.95 (prem +16 pts); three-month INR=D3 at 91.25 (+14 pts).

Market Impact: Importers scramble; equity benchmarks Nifty down 0.3%; RBI likely to intervene.

Sources: Reuters, Moneycontrol