The Indian rupee dropped to its worst one-day decline in over three months, on Friday (November 21, 2025), falling below the 89-per-dollar level, the first we had ever seen. It ended the day 93 paise down at all-time low of 89.61 relative to the US dollar due to the poor sentiment in the global market and increasing trade related uncertainties that were facing the major economies.
At the interbank foreign exchange market, the rupee opened at 88.67 and it kept dropping during the trading session. It has recorded an all time intra-day low of 89.65 and has closed slightly at 89.61 (provisional), the worst one-day fall since August. The persistence of the US dollar due to a global risk aversion was also observed by traders which helped to weaken the rupee.
In the meantime, the index of US dollar that tracks the dollar expressed in six major currencies in the world rose by 0.09 percent to 100.17 which further strained emerging market currencies such as rupee.
Brent crude contracts in the commodities market fell 2.18 percent at 62.00 a barrel, which still took the fear off the escalating import prices, but did not give much relief to the declining rupee. Analysts claimed that crude price fluctuations are still having a bearing on the forex market of India because the country is a big importer of oil.
The bad global sentiment was also reflected in domestic equity markets. The Sensex fell by 400.76, or 0.47 percent, to 85,231.92 and Nifty fell 124, or 0.47 percent, to 26,068.15. According to market pundits, the market dropped as a result of pessimism about tensions in the global trade and investor caution.
Even during the down turn, foreign institutional investors (FIIs) were net buyers buying equities of 283.65 crore on Thursday based on the exchange data. Nevertheless, the inflows were not enough to counter the overall market forces exerting on the rupee.
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