Rupee at record low: India’s Chief Economic Adviser V Anantha Nageswaran, on the sidelines of a Confederation of Indian Industry (CII) event, said people should not be worried or lose their sleep over the falling rupee against the dollar. The currency touched an all-time low against the US dollar on Wednesday, briefly breaching the psychological 90 mark.
CEA Anantha Nageswaran said people should not lose their sleep as the falling rupee is not hurting India’s inflation or exports to foreign nations, according to a report by news agency PTI.
On the sidelines of the CII event, CEA Nageswaran also predicted that the rupee is expected to improve against the US dollar next year.
Rupee drops below 90
The Indian rupee on Wednesday dropped below the psychologically important 90 per US dollar mark to hit a fresh record low over the India-US trade deal uncertainty.
According to Morningstar data, the rupee dropped to 90.10 per US dollar as of 9:11 AM UTC or 2:41 PM IST, crossing its previous all-time low of 89.95 earlier this week.
Mint reported earlier that the Indian rupee opened at 89.91 against the US greenback in Wednesday’s currency market session, but soon the domestic currency slipped below the 90 level during the trading day.
The rupee is facing multiple pressures. According to the Bloomberg US Dollar spot price, the greenback was trading 0.21% lower at 99.15 as of 4:28 AM EST on Wednesday.
According to the report, over the two trading sessions in December, foreign portfolio investors (FPIs) offloaded shares worth ₹4,335 crore, increasing the year-to-date (YTD) outflow to ₹148,010 crore.
India’s trade deficit also increased to a record level of $41.7 billion as per the October 2025 data, due to a dynamic surge in gold imports amid high festive season demand.
As of 2:46 PM IST, the BSE Sensex was trading 0.10% lower at 85,052.17 points, compared to 85,138.27 points at the previous market close, as the benchmark indices also felt the pressure from a declining rupee.
The Nifty 50 was trading 0.24% lower at 25,968.55 points as of 2:58 PM IST, compared to 26,032.20 points at the previous market close, according to exchange data.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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