Economy

After crossing the 90-per-dollar threshold on Wednesday, the rupee weakened further to a new record low of 90.56 on Thursday, before recovering slightly to close at 89.98.

Updated : Dec 4, 2025

Rupee at 90: Could 100 be the next stop? Data shows the risk is real

The rupee’s historic breach of the Rs 90 mark has intensified speculation over whether the currency could slide further toward 100. Sustained foreign outflows and a widening trade gap are fuelling the pressure. With markets rattled, the focus now shifts to whether this is a temporary shock—or the start of a deeper decline.

The rupee breached the 90 level against the US dollar on December 3, but there is expectation that it would hold against 91 levels and could possibly even stay in the 88-89 level.

Updated : Dec 4, 2025

Rupee recovers to 89.96 after hitting record low - markets split on whether it will break 91

INR recovered to 89.96 against USD. Much of the depreciation in the Indian currency is due to anxiety over the India-US trade deal and dollar outflows by foreign portfolio investors.

President Vladimir Putin will arrive in India on Thursday for his first visit since the Ukraine war, meeting PM Modi to reinforce defence and energy ties.

Updated : Dec 4, 2025

'No new deal signed between India and Russia': Govt clarifies on $2 bn Russia submarine deal

The government has clarified that no fresh agreement has been signed between India and Russia; the submarine lease stems from an existing contract inked in March 2019. Its delivery was delayed, and the revised timeline now places handover in 2028.

Currently, India’s exports to Russia stand at $4.9 billion, compared with imports of $63.8 billion in 2024–25.

Updated : Dec 4, 2025

India–Russia trade: Piyush Goyal pushes for balanced trade ties ahead of Putin’s high-stakes visit

Speaking at the India–Russia Business Forum organised by FICCI, Goyal stressed that while trade is nearing USD 70 billion, India cannot afford to remain complacent.

Prime Minister Narendra Modi and Vladimir Putin (File Photo: PTI)

Updated : Dec 4, 2025

Vladimir Putin visit: India to lease $2 billion Russian submarine, boosting naval power, says report

India has agreed to lease a Russian nuclear-powered attack submarine for roughly $2 billion, marking a significant boost to its naval capabilities as President Vladimir Putin visits New Delhi. The submarine, set for delivery within two years, will be used for training and enhancing operational experience, reflecting Indias ongoing defence and energy partnership with Russia.

Nirmala Sitharaman says Centre will share health, national cess with states

Updated : Dec 4, 2025

Centre will share part of collection from health, national security cess: Sitharaman

The compensation cess, initially set to expire in June 2022, was extended until March 2026 to service Rs 2.69 lakh crore in loans taken during the COVID-19 pandemic to cover revenue shortfalls for states.

8th Central Pay Commission set up: To review pay, pensions, and service conditions of employees

Updated : Dec 4, 2025

8th Pay Commission set to reshape FY28 finances, may add Rs 4–9 lakh cr burden: Neelkanth Mishra

According to Neelkanth Mishra, Member of the Prime Minister’s Economic Advisory Council (EAC-PM), the implementation of the 8th CPC is likely to exert substantial pressure on India’s public finances, both at the Centre and in the states.

Pagaria said the 90-mark was widely seen by market participants as a level the RBI might defend. He pointed to the continuous trade delays with the US and a strengthening dollar as key triggers.

Updated : Dec 4, 2025

Rupee crosses 90-mark: RBI rate cut next? Aditya Pagaria explains

While his desk expects a 25 basis point cut, Pagaria emphasised that the market’s reaction will hinge less on the rate action and more on the tone of the RBI governor.

The rupee’s slide deepened on December 4 as it opened at a fresh low of 90.41, driven by stalled progress on the Indo–US trade deal and persistent equity outflows.

Updated : Dec 4, 2025

Rupee over 90: RBI adopts flexible stance as rupee weakens amid reduced foreign inflows

The rupee’s slide to a record 90.42 against the dollar marks a clear shift in the RBI’s currency strategy. With foreign inflows weakening and trade tensions rising, the central bank is now prioritising volatility control over defending any level. India’s worst-performing Asian currency this year, the rupee faces pressure until global and bilateral uncertainties ease.

Market participants also believe that factors including US Tariffs have trimmed Indian exports, limiting the inflow of dollars into the Indian economy.

Updated : Dec 4, 2025

Rupee hits new record lows: Key factors for INR depreciation; more weakness likely?

The Indian rupee (INR) plunged to an all-time low against the dollar on Thursday on persistent foreign outflows, hitting 90.42 per US dollar.

In FY25, India’s exports to Russia amounted to just $4.88 billion and imports were $63.84 billion.

Updated : Dec 4, 2025

Russian President Putin’s visit seen to boost bilateral trade, investment opportunities

The two countries aim to boost bilateral trade to $100 billion by 2030 from $68.7 billion in FY25, India-EAEU working on FTA.

Fitch Ratings increases India's GDP growth forecast

Updated : Dec 4, 2025

Fitch raises India’s FY26 GDP growth forecast to 7.4% on increased consumer spending, GST reforms

Fitch stated in its Global Economic Outlook report for December, "Growth will ease over the remainder of the financial year 2025-26 (to end-March), but we have raised our full-year growth forecast to 7.4 per cent, from 6.9 per cent in September.”

The rupee slipped 29 paise to a fresh low of 90.43 extending the Indian currency's losing streak for the seventh straight session.

Updated : Dec 4, 2025

Rupee in a free fall, slips for seventh straight session; what's next?

Rupee crash: Analysts attribute high demand for dollar and a delay in the India-US trade deal for the rupee crash.

SBI highlighted a key fact often missed in market chatter: the rupee’s volatility remains exceptionally low.

Updated : Dec 3, 2025

Rupee breaches 90 mark, INR most depreciated but among least volatile currencies, says SBI report

In its latest Ecowrap report, the State Bank of India noted that while the rupee has depreciated roughly 5.5% since April 2025, this slide has been driven largely by external shocks, particularly the escalating trade dispute with the US.

Akshat Shrivastava argued that the rupee’s weakness stems from a fundamental imbalance in global demand. He added that the dollar dominates simply because “it has more use cases”.

Updated : Dec 3, 2025

‘More demand for USD, limited INR use cases’: Expert explains why rupee has slid to 90 against dollar

As the rupee hit a record low of 90 against the US dollar, investor Akshat Shrivastava explained why the fall was inevitable. According to him, the USD dominates global trade, investment and capital flows, leaving the INR with limited use cases. He says the imbalance in demand is driving the sharp depreciation.

The currency’s slide has been aggravated by heavy foreign portfolio investor (FPI) selling. FPIs have withdrawn Rs 1.48 lakh crore from Indian equities since January 2025.

Updated : Dec 3, 2025

Rupee crashes past 90 per dollar: What’s fueling the slide amid strong growth and low inflation

Despite India’s strong economic footing, the rupee has tumbled past the 90-per-dollar threshold. Capital outflows, record imports and muted RBI intervention are driving the sharp depreciation. Market sentiment has weakened further amid delays in a crucial India–US trade deal.

Experts said from a technical standpoint, the rupee is deeply oversold, and a sustained move above 89.80 is crucial for any real rebound.

Updated : Dec 3, 2025

‘How long will the govt hoodwink me’: Vijay Mallya says there’s a mismatch in how much he owes and how much was recovered

Vijay Mallya's post comes after the Finance Ministry told the Lok Sabha on Monday that fugitive economic offenders owe more than Rs 58,082 crore to Indian public sector banks.

Economy

Rupee at 90: Could 100 be the next stop? Data shows the risk is real

Rupee recovers to 89.96 after hitting record low - markets split on whether it will break 91

'No new deal signed between India and Russia': Govt clarifies on $2 bn Russia submarine deal

India–Russia trade: Piyush Goyal pushes for balanced trade ties ahead of Putin’s high-stakes visit

Vladimir Putin visit: India to lease $2 billion Russian submarine, boosting naval power, says report

Centre will share part of collection from health, national security cess: Sitharaman

8th Pay Commission set to reshape FY28 finances, may add Rs 4–9 lakh cr burden: Neelkanth Mishra

Rupee crosses 90-mark: RBI rate cut next? Aditya Pagaria explains

Rupee over 90: RBI adopts flexible stance as rupee weakens amid reduced foreign inflows

Rupee hits new record lows: Key factors for INR depreciation; more weakness likely?

Russian President Putin’s visit seen to boost bilateral trade, investment opportunities

Fitch raises India’s FY26 GDP growth forecast to 7.4% on increased consumer spending, GST reforms

Rupee in a free fall, slips for seventh straight session; what's next?

Rupee breaches 90 mark, INR most depreciated but among least volatile currencies, says SBI report

‘More demand for USD, limited INR use cases’: Expert explains why rupee has slid to 90 against dollar

Rupee crashes past 90 per dollar: What’s fueling the slide amid strong growth and low inflation

Rupee slide no worry, will recover next year, says CEA Nageswaran after it breached the 90-per-dollar mark

Rupee breaches 90 mark for first time, falls for sixth straight session

RBI MPC faces tough call on rate cut decision

Rupee hits record low, falls for fifth day; more pain ahead?

‘How long will the govt hoodwink me’: Vijay Mallya says there’s a mismatch in how much he owes and how much was recovered

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