The Indian rupee plunged to a new all-time low of 90.47 against the US dollar on December 11, extending its slide beyond the 90-per-dollar mark and reflecting persistent pressure on the currency.
As of 1:40 pm, the rupee had weakened 0.5% to 90.47, surpassing its previous record low of 90.42 touched on December 4. The currency later closed at 90.3675, down 0.4% for the day.
So far in 2025, the rupee has depreciated over 5% against the dollar, weighed down largely by US tariffs of up to 50% on Indian goods, which have impacted India’s export competitiveness in its largest market. The reduced foreign investor appetite for Indian equities has further added to the downward pressure.
In the broader Asian region, currencies traded mixed on Thursday. Meanwhile, the US dollar index bounced back slightly after touching a near two-month low following the US Federal Reserve’s rate-cut decision.
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