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The rupee weakened beyond 91 per USD amid ongoing India US trade discussions and rising hedging activity. Dollar sales by government banks aimed to curb the slide, while export data suggested mixed signals for the economy’s external balance.
The Indian Rupee weakened 0.8% in November 2025 to a historic low of 89.46/$, then fell further to 89.73/$ in early December despite blockbuster 8.2% Q2 GDP growth that beat forecasts of 7.3%. Bank of Baroda economist Aditi Gupta says external trade and capital flow worries overshadowed strong domestic fundamentals. With no RBI rate cut expected and Fed moves already priced in, the rupee is likely
