The Indian rupee took a big hit on Monday January 13 2025 dropping 58 paise to a new record low of 86.62 against the US dollar. This was the biggest single day drop in almost two years happening in the currency exchange market. It started at 86.12 went up a little to 86.11 and then kept falling to the lowest point.
The dollar getting stronger and oil prices going up are the main reasons the rupee went down. These things pushed the Indian currency down fast making it lose 0.67% in just one day. People are now worried because the rupee dropped so much so quickly.
This big drop in the rupee has made people worried about the economy. The fact that it closed at a record low shows how easily the rupee can be affected by things happening outside India like other currencies and prices of resources. The speed of the drop has people concerned about how stable the rupee will be in the future and what it could mean for India’s economy.