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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BJP responsible for Sabarimala women entry verdict, LDF's stand same as 2007 affidavit: Min Vasavan
Kottayam (Kerala) (PTI): Kerala Devaswom Minister V N Vasavan on Saturday blamed the BJP for the 2018 Supreme Court verdict permitting women's entry into Sabarimala and said the LDF government's current stand remains the same as the affidavit filed before the apex court in 2007.
He was responding to reporters' queries regarding the affidavit to be filed by the state government before the nine-member bench of the Supreme Court clarifying its position on the entry of women of menstruating age into the hill shrine.
He said the 2018 verdict came after women lawyers associated with the BJP approached the Supreme Court.
"We had filed an affidavit in 2007 stating that the issue should be decided by experts in ritualistic matters. We are still maintaining that stand," he said.
The Supreme Court has not sought the state government's position on women's entry now, but has asked for clarification on certain constitutional issues, he added.
"We have assigned the Advocate General and constitutional experts in the Supreme Court to give the reply. They will respond accordingly," the minister said.
He added that if the court seeks the state government's stand on the matter, it would be presented, noting that the LDF government had already stated its position in the affidavit filed in 2007.
"The party's (CPI-M) stand is the same as the government's. The government is with the devotees. We have always been with the devotees," he said.
The minister also criticised the opposition, alleging that they repeatedly approach courts on various issues and return with adverse responses.
"They go to court on several matters and come back with adverse responses. Has there been an opposition in Kerala that has faced so many setbacks from courts," he asked.
When asked about the state government’s actions in 2018 following the Supreme Court verdict allowing women of all ages to enter Sabarimala, he said no such interpretation should be made as the government had already clarified its stand in the 2007 affidavit.
"If the Supreme Court gives any verdict, can we say anything against it. The women’s entry was the decision of the apex court of the country," he said.
He said the 2018 verdict came after women lawyers associated with the BJP approached the SC.
"They are now hiding. Actually they were standing for it. But here they are taking a different stand," he said.
He further alleged that attempts to facilitate women's entry in 2018 were made by BJP activists.
"It was BJP's young lawyers who filed the case and received the verdict. They then called it a historic judgement. But after some stage, they changed their position," he claimed.
He said the LDF government's position was that it respects the Supreme Court's verdict.
"But in our affidavit filed in 2007 we clearly stated that the entry of women of menstruating age should be decided by experts in ritualistic matters," he said.
He denied allegations that the state government had taken special interest in facilitating the entry of women of menstruating age into Sabarimala in 2018.
The Supreme Court in 2018 permitted women of menstruating age to enter the Sabarimala temple, following which Kerala witnessed widespread protests.
Currently, the Supreme Court is considering appeals against the earlier verdict.
