Rupee hits all-time low, slips past 90 against $

New Delhi: The rupee slipped to its weakest level on record on Wednesday, falling past 90 per US dollar in early trade. The move had been building for weeks as global investors pulled money out of Indian markets and the dollar continued to strengthen against most major currencies.

At around 10 am, the rupee was trading at 90.11 per US dollar, showing no signs of stabilising. Traders said the fall was not a surprise, but the speed of the slide caught the market off guard. The Reserve Bank of India was believed to have stepped in to calm volatility, although the currency struggled to pull back meaningfully through the day.

Several factors have pushed the rupee to this point. Foreign portfolio flows have remained weak, the pending US India trade discussions have added uncertainty, and the global risk environment has shifted toward the dollar. Together they have left the rupee exposed and without strong support.

A weaker currency has immediate consequences for households and businesses. Import bills rise, especially for crude oil, electronics and industrial goods. Companies with overseas loans see repayment costs go up. Students and travellers feel the impact almost instantly. Exporters may get some relief but the overall pressure on the economy increases.