Rupee in Trouble! Falls to a Record Low Against the Dollar, Crosses 90 Mark for the First Time

New Delhi (The Uttam Hindu): The Indian rupee witnessed a sharp fall on Wednesday and, for the first time in history, slipped beyond the 90-mark against the US dollar. The domestic currency dropped to a new record low of ₹90.13 per dollar, breaking its previous all-time low of ₹89.94, which it touched in the earlier session.

This decline is being attributed to weak trade activity, reduced portfolio inflows, and rising uncertainty over the India–US trade deal. These factors kept the rupee under continuous pressure throughout the trading session. The impact of the falling rupee was also visible on India’s benchmark indices. The Nifty index slipped below the crucial 26,000 level during Wednesday’s trade.

The Sensex also opened with a fall of more than 200 points as the weakening rupee raised concerns related to inflation and foreign institutional investor (FII) activity. Analysts say traders are waiting for signs of stability in the rupee and clarity on India–US trade discussions, which has kept market sentiment tense.

According to market experts, if an India–US trade agreement is finalized, the rupee may start stabilizing—and could even recover. This deal is expected to materialize sometime this month, though progress will depend heavily on tariff-related details. Analysts also noted that the RBI’s muted intervention has contributed to the continued decline. With the RBI’s MPC policy announcement scheduled for Friday, markets hope to understand whether the central bank plans to take steps to support the currency.