Indian Rupee Hits Record Low as Foreign Equity Outflows Intensify
The Indian rupee hit a record low of 91.7425 against the dollar as foreign investors pulled three billion dollars from equities. The currency saw its steepest one-day decline in two months on Wednesday.
Insights:
The US Dollar / Indian Rupee reached an all-time low of 91.7425 on January 21, 2026, marking the sharpest single-session decline for the local currency in two months. The rupee concluded the trading day at 91.6950, representing a 0.8% drop from its previous close of 90.9750. This downturn marks the sixth consecutive session of losses for the currency, which has now depreciated by 2% since the start of January 2026.
A primary driver for the decline is the persistent exit of foreign capital from India 
IN. Foreign investors have withdrawn approximately $3 billion from Indian shares in January 2026 alone, following record outflows of nearly $19 billion throughout 2025. Despite these pressures, the Reserve Bank of India remained on the sidelines during Wednesday's session, choosing not to provide dollar supply to stabilize the market.
IN. Foreign investors have withdrawn approximately $3 billion from Indian shares in January 2026 alone, following record outflows of nearly $19 billion throughout 2025. Despite these pressures, the Reserve Bank of India remained on the sidelines during Wednesday's session, choosing not to provide dollar supply to stabilize the market.
