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Rupee Plummets as RBI Stands Firm Amid Trade Delays

11/23/2025

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Summary

Story summary

The Reserve Bank of India (RBI) did not intervene amid rising dollar demand as the rupee fell to 89.4812 per dollar.
The decline is linked to delays in a trade deal with the United States that imposes 50% tariffs on Indian exports.
The RBI had previously sold dollars to support the rupee.
Reserves have fallen by about $10 billion since mid-September.

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Story summary

The Reserve Bank of India (RBI) did not intervene amid rising dollar demand as the rupee fell to 89.4812 per dollar.
The decline is linked to delays in a trade deal with the United States that imposes 50% tariffs on Indian exports.
The RBI had previously sold dollars to support the rupee.
Reserves have fallen by about $10 billion since mid-September.