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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Lost a good friend; void cannot be filled: Fadnavis mourns Ajit Pawar’s passing
Mumbai (PTI): Maharashtra Chief Minister Devendra Fadnavis on Wednesday described Deputy CM Ajit Pawar’s tragic death in a plane crash as unbelievable, and said he had lost a good friend.
Fadnavis said “today” (January 28) will be a government holiday and there will be a three-day state mourning as a mark of respect to Pawar.
Ajit Pawar’s death has left a void that will never be filled, he said. “After working closely together, it is unbelievable that he is no more,” Fadnavis said.
Talking to reporters, Fadnavis described Pawar as a people’s leader who knew the state well and had a deep understanding of the issues in Maharashtra. He said it takes several years to build and establish such leadership.
Fadnavis said he had apprised Prime Minister Narendra Modi and Union Home Minister Amit Shah about the tragedy. The CM said he had also spoken with Ajit Pawar’s cousin Supriya Sule and his son Parth Pawar.
“Both (Deputy CM) Eknath Shinde and I are leaving for Baramati now. Once their entire family gathers in Baramati, we will share further details,” he said.
The entire state stands by Pawar’s family and his party NCP in this hour of grief, he added.
Ajit Pawar, 66, and four other persons were killed after an aircraft carrying them crashed in Maharashtra’s Pune district on Wednesday morning, officials said. The incident occurred when the plane carrying Pawar and others landed near Baramati, they said.
Several state BJP leaders, including Ashish Shelar, Ravindra Chavan and Chandrashekhar Bawankule, expressed deep grief over Pawar’s passing.
“This heart-wrenching incident has left the mind numb. Maharashtra has lost an experienced, dutiful and resolute leader,” state minister Shelar said.
Pawar left a distinct imprint on the state’s politics through his strong grip over administration, decisiveness and relentless drive for Maharashtra’s all-round progress. “Firmness, discipline, punctuality and tireless dedication were defining aspects of his personality,” he said.
BJP state president Ravindra Chavan said Maharashtra’s politics was unimaginable without Pawar. He said Pawar was known as a dynamic leader with a powerful command over administration and an unwavering focus on the state’s comprehensive development.
He said Pawar held the record for serving the longest tenure as deputy CM in the state’s history and left an indelible mark while handling key portfolios such as irrigation, energy and finance. “With his passing, Maharashtra has lost a firm, disciplined, punctual and indefatigable leader. This void can never be filled,” Chavan said.
Revenue Minister Chandrashekhar Bawankule described Pawar as a senior friend and guide. “Even now, it is difficult to accept that this tragedy has really happened,” he said. Pawar would be remembered as a true people’s leader who gave clear direction and unstoppable momentum to Maharashtra’s all-round development, Bawankule said.
Recalling Pawar’s immense administrative experience, Bawankule said he had personally sought the NCP leader’s advice on several occasions.
“The loss of Ajitdada is not merely the departure of one leader; it is a profound loss for Maharashtra itself. The nation has lost a visionary statesman, and I have lost a dear elder friend and guide,” Bawankule said, adding that the reality of Pawar no longer being among them felt impossible to accept.
VIDEO | Maharashtra CM Devendra Fadnavis expresses grief over the demise of Deputy CM Ajit Pawar in an aircraft crash. He says, “This morning, a very tragic incident occurred. In extremely unforeseen circumstances, the news of the unfortunate demise of our state’s deputy chief… pic.twitter.com/sKIKJ5FvRW
— Press Trust of India (@PTI_News) January 28, 2026
