Rupee Hits Record Low of 91.93 Against Dollar: Two Key Reasons for Decline
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Moneycontrol•23-01-2026, 15:51
Rupee Hits Record Low of 91.93 Against Dollar: Two Key Reasons for Decline
- •The Rupee depreciated to a record low of 91.93 against the US Dollar on January 23, driven by strong Dollar demand from companies and importers.
- •Continuous selling by foreign institutional investors (FIIs) and Dollar purchases by importers are identified as primary reasons for the Rupee's decline.
- •Geopolitical risks and the absence of a trade deal with the US are contributing to the sustained pressure on the Indian currency.
- •Experts suggest that RBI intervention could help the Rupee recover to the 90.50-90.70 range, with 92.00 acting as a strong resistance level.
- •The Rupee's weakness negatively impacts importers, international travelers, and those studying or seeking medical treatment abroad, but benefits exporters.
Why It Matters: The Rupee hit a record low against the Dollar due to FII selling and importer demand, with potential RBI intervention for recovery.
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