January Sees Worst Performance of Rupee in Three Years

New Delhi: The rupee fell to its weakest-ever closing level on January 30, ending just short of Rs 92 against the dollar, reports said.

While it touched an intra-day low of 92, intervention by the Reserve Bank of India is likely to have prevented the rupee from closing at the psychologically important mark of 92 ahead of the Union Budget on Sunday, February 1.

“The RBI might have been offering dollars at 91.93 levels during the day but allowed the lowest closure today. Only RBI selling has allowed the rupee to remain protected from crossing the 92 level, else there is very good buying of dollar happening on a daily basis,” Business Standard quoted Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP, as having said.

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This January has seen the rupee's worst performance in over three years. Market participants said sustained demand for dollars has kept pressure on the rupee, leaving it dependent on RBI intervention or foreign capital inflows for any meaningful recovery.

Meanwhile, foreign institutional investors net sold Rs 735,962 crore worth Indian equities in January, The Hindu has reported quoting National Securities and Depository Ltd. data, noting that it is the most since August 2025.

“The FII outflows and demand for dollar ahead of the Budget are keeping the rupee under pressure,” said another dealer quoted by Business Standard.

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