The rupee crossed the 90 mark against the US dollar for the first time in today’s trading. On Wednesday, the rupee reached 90.13.
रिकॉर्ड निचले स्तर पर गिरा रुपया, डॉलर के मुकाबले अबकी बार ₹90 पार
The Indian currency, the rupee, hit a record low for the third consecutive day on Wednesday. This time, the rupee weakened and crossed 90 against the dollar. In today’s trading, the rupee crossed the 90 mark against the US dollar for the first time. On Wednesday, the rupee reached 90.13.
Earlier on Tuesday, it had also closed at a record low of 89.9475. Although the rupee opened at 89.91 in morning trading, selling pressure soon pushed it past 90.
The Congress, while cornering the Modi government over the rupee’s record weakening, has once again recalled Prime Minister Narendra Modi’s old statement. Congress has shared a video in which Modi, while the leader of the opposition, is seen questioning the central government:
“In the video, the PM is saying that Nepal’s currency doesn’t fall, Sri Lanka’s currency doesn’t fall, Pakistan’s currency doesn’t fall, Bangladesh’s currency doesn’t fall, but India’s currency is falling… What is the reason for this? He will have to answer for this.”
With the same video, Congress has sarcastically asked,
“What is the reason that the Indian rupee has reached a historic low today? The country is demanding the same answer that Narendra Modi once demanded.”
The party says that the same sharp question with which Modi targeted the previous government is now facing his own government. Congress wrote, “This is Narendra Modi’s question to the Prime Minister.”
What is the reason for the sharp fall of the rupee?
According to experts, the sharp fall of the rupee is not the result of any single reason, but the combined effect of many factors. Experts believe that the biggest pressure is arising from the uncertainty surrounding the India-US trade deal. The continued suspense over the deal and the lack of clear signals have weakened market sentiment.
According to Jatin Trivedi, Vice President (Research) at LKP Securities, the delay in the deal has shaken investor confidence, and now the market needs not just assurances, but signs of concrete progress.
The second major reason is the rapid outflow of foreign capital. In just two trading days of December, foreign portfolio investors (FPIs) sold shares worth Rs 4,335 crore. The total outflow since the beginning of this year has reached Rs 1,48,010 crore.
When foreign investors withdraw money by converting rupees into dollars on a large scale, selling pressure on the rupee naturally increases.
The third major reason is the rapidly growing trade deficit. In October 2025, it jumped to a record high of $41.7 billion. The biggest driver of this was gold imports, which nearly tripled to $14.7 billion. High international gold and silver prices have further exacerbated India’s import bill.
In addition, Indian exports to the United States declined by 28% due to the impact of US tariffs, further damaging the trade balance.
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