The Indian rupee hit a new record low in early trade on Thursday, trading above 90 for the second consecutive session. After breaching the key 90 mark against the US dollar for the first time on Wednesday, the rupee slipped 29 paise to hit a fresh low of 90.43, extending the Indian currency’s losing streak for the seventh consecutive session today.
Analysts attribute high demand for dollars and delay in India-US trade deal for the rupee crash.
Jateen Trivedi, vice president research analyst – commodities and currencies at LKP Securities, said: “The fall was largely due to lack of clarity on the India-US trade deal, coupled with record prices of bullion and metals which added to the import bill.” 89.80 to recover significantly.”
Since late August, when the United States imposed high tariffs on Indian exports, foreign investors have withdrawn $16.5 billion from Indian stocks, positioning the rupee as the weakest Asian currency in 2025. The Indian rupee has fallen 5.54% against the US dollar in 2025.
Dilip Parmar, research analyst at HDFC Securities, said, “Substantial outflows by foreign institutional investors and restrained central bank intervention ahead of the crucial decision by the Monetary Policy Committee (MPC), allows market forces to exert greater influence. Technically, the spot USD/INR pair faces a critical resistance level at 90.30, meanwhile, a key support level at 89.80 must be held to avoid further losses.
