Indian Rupee Hits Lifetime Low of 91.95 per US Dollar as Foreign Capital Exits
The Indian rupee fell to a record low of 91.95 against the U.S. dollar on Friday as foreign investors pulled three point five billion dollars from equities.
Insights:
The Indian rupee fell to a lifetime low of 91.95 per U.S. dollar on January 23, 2026, as significant capital outflows and high importer demand weighed on the currency. The historic low was reached despite repeated intervention from the Reserve Bank of India, which conducted aggressive dollar sales on at least two occasions during the week to manage the volatility. While these actions slowed the pace of the decline, the currency still finished the week ending January 23 with a loss of more than 1%.
This latest drop contributes to a broader trend of depreciation, with the Indian rupeefalling more than 2% during January 2026 alone. This follows a challenging year in 2025, when the currency declined by 5% overall. Market pressure is currently driven by a combination of foreign institutional investors selling equities, speculative dollar buying by offshore players, and persistent demand from bullion importers.
