The rupee on Monday (December 15, 2025) crashed to its lowest-ever level of 90.80 before settling at a fresh all-time low of 90.74 (provisional) against the U.S. dollar, registering a loss of 25 paise over its previous close, weighed down by uncertainty over an India-U.S. trade deal and persistent foreign fund outflows.

Forex traders said prevailing risk-averse market sentiment, compounded by strong U.S. dollar demand from importers, further dented investor sentiment.

At the interbank foreign exchange, the rupee opened at 90.53 against the U.S. dollar, then lost ground and fell to a record intra-day low of 90.80, registering a 31-paise decline from its previous close.

At the end of trade on Monday (December 15, 2025), the rupee was quoted at a record low of 90.74 (provisional), down 25 paise over its previous close.

On Friday (December 12, 2025), the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.

“The Indian rupee plunged to a record low, positioning it as the worst performer among the Asian currencies. Despite the better-than-expected trade balance number, the rupee was unable to find support,” said Dilip Parmar, Research Analyst, HDFC Securities.

Parmar further noted, “This lack of resilience is primarily attributed to a significant demand-supply imbalance, driven by high dollar demand from importers and persistent capital outflows, which remain the biggest concerns for the currency.” “In the near term, the technical bias for the spot USD-INR pair remains bullish, with key resistance at 90.95 and support at 90.50,” Parmar added.

Meanwhile, Commerce Secretary Rajesh Agrawal on Monday said India and the US are “very close” on the framework deal.

“We are very close on the framework deal, which we feel can be done in a short period of time. But I would not like to put a time period on that,” he told reporters here.

The two countries are conducting parallel negotiations — one on a framework trade deal to address high tariffs and another on a comprehensive bilateral trade agreement (BTA).

The Indian industry and exporters are eagerly awaiting the conclusion of the negotiations and the announcement of the deal, as high import duties are hurting their shipments to America.

India and the U.S. concluded two days of talks on Thursday (December 11, 2025), during which both sides exchanged views on trade-related issues, including the ongoing negotiations for a mutually beneficial bilateral trade agreement.

Prime Minister Narendra Modi and U.S. President Donald Trump on Thursday discussed ways to sustain momentum in the bilateral economic partnership in a phone conversation, amid signs that the two sides are inching closer to finalising a much-awaited trade deal.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.08 per cent lower at 98.32.

Brent crude, the global oil benchmark, was trading 0.21% higher at $61.25 per barrel in futures trade.

On the domestic equity market front, the 30-share benchmark index, Sensex, declined 54.30 points to settle at 85,213.36, and the Nifty fell 19.65 points to 26,027.30.

Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.

Meanwhile, India’s forex reserves jumped by $1.033 billion to $687.26 billion during the week ended December 5, the RBI said on Friday (December 12, 2025). In the previous reporting week, the reserves had dropped by $1.877 billion to $686.227 billion.

Published – December 15, 2025 04:13 pm IST

Image used for representation purpose only.
| Photo Credit: Getty Images/iStockphoto

Image used for representation purpose only.
| Photo Credit: Reuters

Image used for representation purpose only.
| Photo Credit: The Hindu

India’s forex reserves rose $1.05 billion to $630.607 billion for the week ended January 31, the RBI said on Friday (February 7, 2025)

In the previous reporting week, the overall reserves had increased by $5.574 billion to $629.557 billion.

This is the second consecutive week of an increase in the reserves, which have otherwise been on a declining trend for the last few weeks due to revaluation along with forex market interventions by RBI to help reduce volatilities in the rupee.

The forex reserves had increased to an all-time high of $704.885 billion in end-September 2024.

For the week ended January 31, foreign currency assets, a major component of the reserves, decreased by $ 207 million to $537.684 billion, the data released on Friday showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves increased by $1.242 billion to $70.893 billion during the week, the Reserve Bank of India said.

The Special Drawing Rights (SDRs) were up by $29 million to $17.889 billion, the apex bank said.

India’s reserve position with the IMF was down by $14 million at $4.141 billion in the reporting week, the apex bank data showed.

Photo used for representation purpose only.
| Photo Credit: Reuters

The rupee slipped 1 paisa to its record low of 85.92 against the U.S. dollar in early trade on Thursday (January 9, 2025), the third straight session of downfall, weighed down by a stronger American currency and higher crude oil prices.

Forex traders said the relentless outflow of foreign funds amid soaring U.S. bond yields boosted the American currency, while subdued domestic equity markets pushed the rupee down further.

At the interbank foreign exchange, the rupee opened at its historic low level of 85.94 and inched up to 85.92 against the greenback in initial deals, trading with a loss of 1 paisa from its previous close.

On Wednesday, the rupee plunged 17 paise to settle at its all-time low closing level of 85.91 against the dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.11 per cent lower but stayed elevated at 108.80.

The 10-year US bond yields also remained elevated at 4.66 per cent amid expectations of delayed interest rate cuts by the Federal Reserve on better growth prospects of the world’s largest economy.

Brent crude, the global oil benchmark, fell 0.10 per cent to USD 76.08 per barrel in futures trade.

In the domestic equity market, the 30-share BSE Sensex was trading 243.43 points, or 0.31 per cent, lower at 77,905.06 points, while the Nifty was down 72.40 points, or 0.31 per cent, at 23,616.55 points.

Foreign institutional investors (FIIs) offloaded Rs 3,362.18 crore in the capital markets on a net basis on Wednesday, according to exchange data.

Photo used for representation purpose only.
| Photo Credit: Reuters

The rupee depreciated 12 paise to 83.56 against the US dollar in early trade on July 2, weighed down by the strengthening of the American currency in the overseas markets and elevated crude oil prices.

Forex traders said oil importers and foreign portfolio investors (FPIs) bought US dollars amid rising US yields, and this dragged down the local unit.

At the interbank foreign exchange market, the rupee opened at 83.51 and lost further ground to trade at 83.56 against the greenback in initial deals, registering a fall of 12 paise from its previous closing level.

On Monday, the rupee depreciated 10 paise to settle at 83.44 against the US dollar.

The rupee had dollar inflows and rose to 83.37 on Monday, but was sold-off to 83.44 levels, as oil and FPIs bought dollars looking at rising US yields, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.

On Tuesday, rupee is likely to touch 83.55 before cooling off to 83.45, Bhansali said, adding that the narrow range for the day could be 83.40 to 83.55.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 105.91, higher by 0.02 per cent, following a surge in US treasury yields as investors contemplated a second Trump US presidency.

Brent crude futures, the global oil benchmark, advanced 0.22 per cent to USD 86.80 per barrel.

In the domestic equity market, benchmark indices, Sensex and Nifty, touched lifetime high levels in early trade. However, the indices pared the initial gains and were trading 64.46 points, or 0.08 per cent, lower at 79,411.73 points. The broader NSE Nifty fell 25.55 points, or 0.11 per cent, to 24,116.40 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 426.03 crore, according to exchange data.

Photo used for representation purpose only. The rupee rose on April 5, bolstered by dollar sales from foreign and state-run banks and after the central bank kept rates unchanged for a seventh consecutive meeting.
| Photo Credit: The Hindu

The rupee rose on April 5, bolstered by dollar sales from foreign and state-run banks and after the central bank kept rates unchanged for a seventh consecutive meeting.

The rupee closed at 83.2950 against the U.S dollar, up nearly 0.2% compared with its close of 83.4375 in the previous session.

The currency logged a gain of 0.1% week-on-week, rebounding from a record low of 83.4550 hit on Thursday.

Dollar sales picked up after the rupee managed to hold above 83.45 despite a raft of weak global cues, a FX trader at a foreign bank said.

Brent crude oil prices rising above $90 per barrel for the first time since October and hawkish comments from Federal Reserve policymakers weighed early in the session.

But foreign and state-run banks’ dollar sales after the Reserve Bank of India’s (RBI) policy decision helped lift the rupee, traders said.

Stop losses were hit after the currency rose above 83.35, which led to traders exiting long dollar positions, the foreign bank trader said.

Five out of six members of India’s rate-setting committee voted in favour of a pause and for holding the monetary stance at ‘withdrawal of accommodation’.

The robust growth prospects provide the central bank the space to remain focused on inflation, RBI Governor Shaktikanta Das said.

Investors now await the U.S. non-farm payrolls report due later on Friday. The U.S. likely added 200,000 jobs in March, according to a Reuters poll of economists.

The dollar index was little changed at 104.2 while Asian currencies were mixed.

The rupee is likely to trade with a modest appreciation bias over the next few sessions, Arnob Biswas, head of foreign exchange research at SMC Global Securities said. (Reporting by Jaspreet Kala; Editing by Mrigank Dhaniwala)

The rupee settled flat at 83.27 against the U.S. dollar
| Photo Credit: SUDERSHAN V

The rupee settled flat at 83.27 against the U.S. dollar amid a weak trend in domestic equities and surging crude oil prices in the international markets.

Forex traders said the safe-haven dollar gained ground amidst heightened concerns in the Middle East.

At the interbank foreign exchange, the domestic unit opened at 83.24 and finally settled at 83.27 against the American currency.

During the day, the rupee witnessed an intra-day high of 83.21 and a low of 83.28 against the greenback.

On Friday, the rupee declined 2 paise to settle at 83.27 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.43 per cent higher at 106.49.

Brent crude futures, the global oil benchmark, rose 3.29 per cent to $87.36 per barrel.

Amid escalating Israel-Hamas conflict heavily impacted risk assets, said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.

The market focus is currently on the fighting and how it could affect the oil market on supply concerns, Bhansali said, adding that accordingly, risky assets were sold off and so was the rupee though well controlled by the RBI.

The market is awaiting FOMC meeting minutes due on Wednesday, while important data due Tuesday are speeches by the ECB president and IMF/World Bank meetings, Mr. Bhansali said.

On the domestic equity market front, the BSE Sensex closed 483.24 points or 0.73 per cent lower at 65,512.39. The broader NSE Nifty declined 141.15 points or 0.72 per cent to 19,512.35.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Friday as they offloaded shares worth ₹90.29 crore, according to exchange data.

Meanwhile, India’s forex reserves dropped further by $3.794 billion to $586.908 billion for the week ended September 29, the Reserve Bank said on Friday.

In the previous reporting week, the overall reserves had declined by $2.335 billion to $590.702 billion as of September 22.