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Indian rupee hits record low of 91.97 against US dollar as foreign portfolio investors withdraw 3.5 billion dollars, dragging Nifty 50 and Sensex down sharply in January.
Rupee Tumbles as Nifty Slides 5% in January, FPIs Pull $3.5 bn
The Indian rupee hit a record low to close at 91.97 against the US dollar on Friday, as the Indian equity market has suffered a constant retreat in the past few sessions.
The rupee has slipped over 1% so far this week, pressured by strong dollar demand from bullion and other importers, speculative buying by offshore players, and sustained foreign fund outflows from equities.
Foreign portfolio investors have withdrawn nearly $3.5 billion from Indian stocks this month, dragging the Nifty 50 down close to 5% in January. Selling pressure has picked up pace this week, with the benchmark index falling more than 3%, adding to the downward strain on the local currency.
The rupee has fallen more than 2% in January, adding to its 5% slide in 2025.
After a mildly positive opening, the domestic equities market faced selling pressure amid profit-booking. The BSE Sensex declined 769.67 points to close at 81,537.70, while the NSE Nifty fell by 241 points to trade below the 25,100 level to 25,048.65.
Among the 30 Sensex stocks, 24 ended the day in the red. Top losers were Adani Ports, Eternal, IndiGo, Axis Bank, and PowerGrid, falling by up to 7.52 per cent. However, gainers were Tech Mahindra, Hindustan Unilever, Infosys, Asian Paints, TCS and UltraTech Cement, rising by up to 0.71 per cent. suggest headliens focus on rupee
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January 23, 2026, 16:24 IST
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