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Rupee hits record low against US dollar
Dec-03-2025

Indian rupee breached the 90-a-dollar level for the first time to settle at a fresh all-time low on Wednesday, amid sustained foreign fund outflows and higher crude oil prices. Uncertainty over the India-US trade deal, along with the lack of Reserve Bank of India (RBI) effort to stop the slide in the local unit, put further pressure on the rupee. Traders overlooked the survey report showing that Indian services sector growth accelerated in the month of November, after losing some momentum in October, boosted by a faster upturn in new business intakes. The seasonally adjusted HSBC India Services PMI Business Activity Index surged to 59.8 in November from 58.9 in October. On the global front, the dollar headed for its ninth straight decline on Wednesday as traders ramped up bets on Federal Reserve rate cuts following US economic data and growing expectations of a more dovish central bank. 

Finally, the rupee ended at 90.19 (Provisional), depreciated by 23 paise from its previous close of 89.96 on Tuesday. The currency touched a high and low of 90.30 and 89.93 respectively.


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