Rupee
Rupee crashes! Indian currency breaches ₹90 per dollar for first time — markets in panic!
Mumbai/IBNS: The Indian rupee on Wednesday plunged to a record low, breaching the ₹90-per-US-dollar mark for the first time in early trade, according to media reports.
Around 10 am, the rupee touched ₹90.11 against the US dollar, extending a steady downward trend seen over the past few weeks as global investors continue to pull funds from Indian markets.
Forex analysts attributed the slide to a stronger US dollar, rising global crude oil prices, and increased dollar demand from importers, Business Standard reported.
Market watchers said the currency remains under pressure amid the prolonged stalemate in India–US trade deal negotiations. Existing US tariffs on Indian goods have further strained bilateral trade and slowed portfolio inflows.
The rupee’s sharp fall comes just days after India posted its Q2 GDP growth at a six-quarter high of 8.2%, indicating that macroeconomic strength has not yet translated into currency stability.
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