Rupee falls 31 paise to all-time low of 91.28 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 31 paise to an all-time low of 91.28 against the American currency in early trade on Wednesday, weighed down by steady dollar demand and a cautious global mood.
Forex traders said rising geopolitical uncertainty, including renewed US expansionary signals, has increased risk aversion and kept emerging market currencies under pressure.
Moreover, a sluggish domestic stock market triggered by an exodus of foreign capital dented investors’ sentiment further, they said.
At the interbank foreign exchange, the rupee opened at 91.05 and lost ground to trade at 91.28 against the greenback, down 31 paise from its previous close.
On Tuesday, the rupee depreciated 7 paise to close at a record low of 90.97 against the US dollar.
"Markets were already uneasy when US President Donald Trump revived trade war rhetoric and renewed his push for Greenland. US Treasury yields jumped to four-month highs, while the dollar slipped for a second day - a sign that investors are questioning not just risk, but direction," CR Forex Advisors MD – Amit Pabari said.
Pabari further noted that "persistent global unease, coupled with a sustained break above 91.07, could gradually open the door toward the 91.70–92.00 zone, unless restrained by active intervention from the RBI.
"On the downside, any corrective pullback is likely to find its first line of support in the 90.30–90.50 range."
On December 16, 2025, the rupee reached its previous lowest intra-day level of 91.14 and its lowest closing level of 90.93 against the American currency.
Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.59.
Brent crude, the global oil benchmark, was trading 1.11 per cent lower at USD 64.20 per barrel in futures trade.
On the domestic equity market front, Sensex dropped 385.82 points to 81,794.65 in opening trade, while Nifty declined 91.5 points to 25,141.
Foreign institutional investors offloaded equities worth Rs 2,938.33 crore on Tuesday, according to exchange data.
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Telangana municipal polls on Feb 11
Hyderabad (PTI): The Telangana State Election Commission on Tuesday announced a single-phase schedule for municipal elections in the state to be held on February 11 for seven municipal corporations and 116 municipalities.
As per the schedule, the election notice will be issued on January 28 and from the same day the nominations will be taken, State Election Commissioner I Rani Kumudini told reporters here.
The last date for filing nominations is January 31.
After scrutiny and withdrawals, the final list of contesting candidates will be announced on February 3.
The date of the poll is February 11 and counting will be done on February 13 and the results will be declared soon after the counting process is completed, she said.
"This is the schedule for direct elections to all the 2,996 wards covering 116 municipalities and seven municipal corporations," she said.
The registered voters are 52.43 lakh -- 25.62 lakh male voters and 26.8 lakh female voters and others are 640.
Kumudini appealed to the voters to exercise their franchise on the poll day.
The Telangana Cabinet on January 18 decided to conduct elections to the municipalities and corporations as early as possible.
Gram panchayat elections were conducted in Telangana in December last year.
