The Indian rupee hit a fresh all-time low on Monday, pressured by increased hedging from importers and a rise in short positions amid escalating U.S. tariffs. The rupee weakened to 88.33 against the U.S. dollar, surpassing its previous record of 88.3075 set last Friday. Analysts noted that the currency continued to face downward pressure following last week’s trend.
Forex traders reported that the rupee began the day on a weaker note and is likely to remain under strain due to ongoing FPI outflows and tariff-related concerns. At the interbank forex market, the rupee opened at 88.18 and dropped further to an early low of 88.26, down 17 paise from the last close.
On Friday, the rupee had breached the 88 mark for the first time, closing at 88.09. It had also touched an intraday low of 88.31 after the RBI allowed it to fall below the previously defended 87.80 level.
Anuj Gupta of Ya Wealth Research predicts the rupee could fall to 89–90 if the situation continues, though RBI intervention and U.S. court relief on tariffs may offer support.
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