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Stock market today: Rupee crashes 32 paise to hit record low of 86.36 against U.S. dollar in early trade

  • The Indian Rupee fell to a record low of 86.36 per U.S. Dollar on January 13, 2025, due to strong U.S. Jobs data and rising oil prices, reported Reuters.
  • Foreign investors withdrew over $4 billion from Indian equities this month, contributing to the rupee's decline, according to forex traders.
  • Jefferies forecasts the rupee could weaken to 88 against the dollar in the near-to-medium term, while Gavekal Research predicts it may breach 90 this year.
  • The Reserve Bank of India's forex reserves dropped by USD 5.693 billion to USD 634.585 billion in the week ended January 3, according to exchange data.
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