Indian Rupee Hits Record Low Against US Dollar as Capital Outflows Mount

The Indian rupee hit an all-time low of 91.2950 per U.S. dollar on Wednesday. Persistent capital outflows and global risk aversion continue to pressure the currency.

Insights:
The US Dollar / Indian Rupee exchange rate reached a historic peak as the Indian rupee fell to an all-time low of 91.2950 per U.S. dollar on January 21, 2026. This move surpassed the previous record low of 91.0750 per U.S. dollar established in mid-December 2025. The currency of India ININhas weakened 1.5% so far in January 2026 following a broader decline of approximately 5% throughout 2025.
A woman holds a five-hundred-rupee currency note in the old quarters of Delhi, India, September 25, 2025. REUTERS/Bhawika Chhabra
A woman holds a five-hundred-rupee currency note in the old quarters of Delhi, India, September 25, 2025. REUTERS/Bhawika Chhabra
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