Indian Rupee Hits Record Low of ₹86.59 Against US Dollar

The rupee's decline reflects global pressures from a strong dollar, surging crude oil prices, and foreign capital outflows, prompting debates on economic policies.

The Indian rupee fell to a historic low of ₹86.59 against the US dollar, marking its steepest one-day drop in nearly two years.
The decline is attributed to a strong US dollar driven by robust American job growth, rising bond yields, and geopolitical factors, including Donald Trump's return to office.
High crude oil prices, which recently crossed $80 per barrel, and foreign institutional investors withdrawing over ₹2,254 crore from Indian markets have added to the rupee's pressure.
The Reserve Bank of India has intervened to stabilize the currency but faces criticism for depleting $47 billion in forex reserves since October 2024, raising concerns about sustainability.
Political tensions have emerged, with the opposition criticizing the ruling government over the rupee's performance, while officials highlight its relative stability compared to other global currencies.