Rupee sinks to record low against dollar, nears 92 mark, Aaditya Thackeray targets Centre

The Indian rupee slipped to an all time low against the US dollar on Friday, triggering sharp political reactions as Shiv Sena UBT leader Aaditya Thackeray accused the Union government of remaining silent on the currency’s steep fall.

The rupee touched a historic low of 92 against the dollar during intra day trade before recovering slightly to close at 91.88 provisionally. The decline comes amid sustained selling by foreign investors and a broader risk off sentiment across global markets.

Reacting to the development, Thackeray said the rupee has now emerged as one of the worst performing currencies globally. He questioned the Bharatiya Janata Party ’s silence, recalling how the party had earlier raised alarms when the rupee was trading near 40 against the dollar.

“The Union government of the BJP and its members who once created national panic at 40 against the dollar do not even bother to explain to citizens when it is at 91.99 . They appear completely speechless after their own dismal record of governance,” the Shiv Sena UBT MLA said.

Market experts attribute the rupee’s weakness to continued FPI outflows, rising global uncertainties, and pressure from a strong dollar. Persistent geopolitical concerns and cautious investor sentiment have also weighed on emerging market currencies, including the rupee.

Despite the marginal recovery towards the end of the session, the rupee’s fall to a record low has renewed concerns over macroeconomic stability and external sector pressures, even as policymakers continue to monitor global developments closely.