Rupee near 97! Here's how Pakistan, China and Bangladesh currencies are faring
The Indian rupee is falling...know what the condition of the currencies of Pakistan, China, and Bangladesh is
- May 21, 2026,
- Updated May 21, 2026 1:46 PM IST
The rupee has seen a significant decline against the dollar this year. It has now crossed the 96 level. On Wednesday, it hit an all-time low of 97. Many experts are even saying that the rupee could soon surpass the 100 level.
Former IMF Deputy Managing Director Gita Gopinath has issued a fresh warning about the rupee's decline, saying it could soon reach the 100 mark. However, the rupee saw a slight recovery on Thursday. It has now risen 41 paise to 96.45.
Rising oil prices continue to put pressure on the rupee. However, it's not just India's currency that is falling; currencies in Japan, Pakistan, and Bangladesh, among others, have seen pressure against the dollar, with each country experiencing a different rate of decline. There are also countries like China and Russia whose currencies have appreciated against the dollar over the past year.
Bangladesh's currency has also strengthened against the rupee. However, Pakistan's currency has also come under pressure against the rupee.
Don't Miss: Oil at $140, rupee near 100? Gita Gopinath warns India faces tough economic shock
Why is the Indian rupee falling?
The Indian rupee is currently hovering above 96, largely due to rising crude oil prices, selling by foreign investors, and a strong dollar. Foreign investors have sold more than ₹2.20 lakh crore this year, and crude oil remains near $110, putting further pressure on the rupee in relation to imports.
Over the past year, the rupee has weakened by approximately 10-12% against the dollar. In 2025, the rupee also fell by approximately 4.7%, its worst performance since 2022.
How much did Pakistan's currency fall?
The Pakistani rupee also remains weak. Pakistan's currency has been under constant pressure against the dollar, although it has seen some stability for some time due to IMF assistance and import controls. Several reports have stated that the Indian rupee has also weakened against the Pakistani rupee.
Bangladesh Taka also weakens
The Bangladeshi taka also remains weak against the dollar. Pressure on foreign exchange reserves and rising import bills have led to a sharp decline. The Economic Times reports that the Indian rupee has also weakened against the taka.
What is the condition of Russia's currency? The ruble has seen significant fluctuations against the dollar, but looking at the past year, 1 dollar was equal to 88–92 rubles in May 2025, and now 1 dollar is equal to 71–74 rubles in May 2026. This means the ruble has appreciated by approximately 9% to 10%.
Pressure on Japan's currency
The Japanese yen has also weakened against the dollar. The USD/JPY pair remained above 150-160, meaning it costs more yen than before to buy one dollar. Extremely low interest rates in Japan have been a major factor in this. Over the past year, the Japanese currency has fallen 7.21%.
How much has China's currency fallen?
The Chinese yuan's decline remained limited. China's central bank has consistently intervened to keep the yuan stable. The yuan remained around 7 against the dollar and appeared less under pressure than many Asian currencies.
The rupee has seen a significant decline against the dollar this year. It has now crossed the 96 level. On Wednesday, it hit an all-time low of 97. Many experts are even saying that the rupee could soon surpass the 100 level.
Former IMF Deputy Managing Director Gita Gopinath has issued a fresh warning about the rupee's decline, saying it could soon reach the 100 mark. However, the rupee saw a slight recovery on Thursday. It has now risen 41 paise to 96.45.
Rising oil prices continue to put pressure on the rupee. However, it's not just India's currency that is falling; currencies in Japan, Pakistan, and Bangladesh, among others, have seen pressure against the dollar, with each country experiencing a different rate of decline. There are also countries like China and Russia whose currencies have appreciated against the dollar over the past year.
Bangladesh's currency has also strengthened against the rupee. However, Pakistan's currency has also come under pressure against the rupee.
Don't Miss: Oil at $140, rupee near 100? Gita Gopinath warns India faces tough economic shock
Why is the Indian rupee falling?
The Indian rupee is currently hovering above 96, largely due to rising crude oil prices, selling by foreign investors, and a strong dollar. Foreign investors have sold more than ₹2.20 lakh crore this year, and crude oil remains near $110, putting further pressure on the rupee in relation to imports.
Over the past year, the rupee has weakened by approximately 10-12% against the dollar. In 2025, the rupee also fell by approximately 4.7%, its worst performance since 2022.
How much did Pakistan's currency fall?
The Pakistani rupee also remains weak. Pakistan's currency has been under constant pressure against the dollar, although it has seen some stability for some time due to IMF assistance and import controls. Several reports have stated that the Indian rupee has also weakened against the Pakistani rupee.
Bangladesh Taka also weakens
The Bangladeshi taka also remains weak against the dollar. Pressure on foreign exchange reserves and rising import bills have led to a sharp decline. The Economic Times reports that the Indian rupee has also weakened against the taka.
What is the condition of Russia's currency? The ruble has seen significant fluctuations against the dollar, but looking at the past year, 1 dollar was equal to 88–92 rubles in May 2025, and now 1 dollar is equal to 71–74 rubles in May 2026. This means the ruble has appreciated by approximately 9% to 10%.
Pressure on Japan's currency
The Japanese yen has also weakened against the dollar. The USD/JPY pair remained above 150-160, meaning it costs more yen than before to buy one dollar. Extremely low interest rates in Japan have been a major factor in this. Over the past year, the Japanese currency has fallen 7.21%.
How much has China's currency fallen?
The Chinese yuan's decline remained limited. China's central bank has consistently intervened to keep the yuan stable. The yuan remained around 7 against the dollar and appeared less under pressure than many Asian currencies.