New Delhi: The rupee marked a shocking low on Wednesday reaching the Rs 90 to a dollar price-level for the first time, plunging 6 paise to 90.02 in early trade, The Wire reported.
Continuing to performing worse than other Asian currencies including Chinese Yuan and the Indonesian Rupiah, the rupee on Tuesday itself plunged to Rs 89.96 to a dollar.
The huge fall came as banks kept buying US dollar at higher levels alongside Foreign Institutional Investors (FIIs) outflows further pulling it down.
Before recovering to 90.02, marking 6 paise beneath previously it closed on, the rupee plunged to a record intra-day low of Rs 90.15 to a dollar.
Although it is good for exporters, the plunge is not auguring well for India’s high trade deficit, which according to the report is not seen to be coming down in the near future; also the fall could make essentials more expensive as it will impact imports.
The shocking fall comes against the backdrop of the Reserve Bank of India (RBI) trying to shore up the rupee putting in a lot money.
Meanwhile, news agency PTI has quoted Anil Kumar Bhansali of Finrex Treasury Advisors LLP as saying that the Rupee ‘might hit 91 levels in this cycle if the RBI support eases at 90.’
It is reported citing Businessline that RBI’s forex interventions to bolster the rupee had risen to $26 billion between September and November 2025.