Indian Rupee Hits Record Low of 91.74 vs USD

The Indian rupee plunged to a record low of 91.74 against the US dollar on January 21, 2026, driven by heavy outflows from foreign institutional investors and escalating geopolitical tensions over US President Donald Trump's push to acquire Greenland from Denmark.

The currency opened at around 91.1 that Wednesday and weakened steadily through the trading session, closing at 91.69 after a single-day drop of 72 paise, its sharpest decline in two months. Forex traders attributed the fall primarily to persistent capital flight from Indian equities, with foreign investors withdrawing more than 30,000 crore rupees so far in 2026. This marked the fifth consecutive session of depreciation, following a previous close of 90.97 on January 20. The Reserve Bank of India intervened by selling dollars in early trade to curb further slides, stabilizing the rupee temporarily after it briefly touched 91.05.

Heightened global uncertainties fueled the downturn. Trump's renewed efforts to secure control of Greenland, a semi-autonomous Danish territory, have strained transatlantic relations. On January 16, he suggested imposing tariffs on countries opposing US control of the island, where America...