The Indian rupee has weakened to around 95 per dollar after testing record lows near 96, making it Asia's worst-performing currency. A roughly 30 per cent decline since 2020 stems from India's heavy oil import dependence, persistent current-account deficits, foreign capital outflows and higher inflation relative to the US. The Reserve Bank of India has intervened by selling dollars.
Indian Rupee Hits Record Low, Worst Performer in Asia
Source: WION