Indian Rupee shatters record, plunges past 90 against US dollar amid global uncertainty
Economy
C
CNBC Awaaz•03/12/2025
Indian Rupee shatters record, plunges past 90 against US dollar amid global uncertainty
- •The Indian rupee hit a record low, crossing ₹90 against the US dollar for the first time.
- •The rupee opened at 89.97/$ but quickly fell to ₹90.14/$ due to strong foreign demand and global uncertainties.
- •Factors contributing to the rupee's decline include a rise in the Dollar Index, selling by foreign funds, and global economic uncertainty.
- •The weakening rupee will make imports, petrol, diesel, electronics, and studying abroad more expensive for Indians.
- •The RBI may intervene by selling dollars, but its impact is currently limited.
Why it matters: This matters because a record low Indian Rupee will increase import costs and impact inflation.
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