Indian Rupee Hits Record Low

2026-01-28 06:00 By Erika Ordonez 1 min. read

The Indian rupee fell toward 91.9 per dollar, extending losses to a fresh record low, driven by dollar-buying linked to NDF maturities and persistent capital outflows.

Foreign investors are repatriating funds following a sharp stock market sell-off that has erased $360 billion so far this year, driving significant USD demand and leaving the rupee vulnerable.

Market attention is also focused on India’s recent “mother of all deals” free trade agreement with the European Union, widely seen as a strategic hedge against volatile US trade policies.

The rupee is down roughly 2.3% this month, heading for its worst monthly performance since September 2022.

Additional headwinds include weaker Asian peers amid global risk aversion following reports of Kevin Warsh’s likely nomination as US Federal Reserve chair, as well as rising oil prices amid Middle East tensions, compounding depreciation pressures.



News Stream
Indian Rupee Hits Over 1-Month Low
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