Rupee Inches Near Record Low at 91.96 Against US Dollar Amid Foreign Outflows and Global Market Volatility

MUMBAI, Jan 29, 2026 — The Indian rupee remained under significant pressure today, settling near its all-time closing low at 91.96 (provisional) against the US dollar as persistent selling by foreign institutional investors and a prevailing risk-off sentiment gripped global markets. While the domestic unit opened at 91.95 and briefly touched an intra-day high of 91.82, it eventually pared those gains to hit a low of 92.00 before closing just 3 paise higher than its previous finish.

This marginal recovery follows a turbulent Wednesday where the currency slumped 31 paise, dangerously revisiting the record closing low of 91.99 seen earlier this month. The local currency’s struggle comes at a critical time as Finance Minister Nirmala Sitharaman tabled the Economic Survey, which highlighted growing concerns over external sector risks and the impact of sustained capital outflows.

Despite a slight softening of the dollar index to 96.37 and a 1.83% dip in Brent crude prices to $69.64 per barrel, the rupee continues to hover near the psychological 92.00 barrier, reflecting deep-seated investor caution regarding the nation’s short-term fiscal landscape.