The Indian Rupee dropped to about 89.64 per US dollar on November 21, 2025, marking a new all-time low. In the past month, the currency fell from around 88 to its current level, a decrease of about 1.8%.
Reports shows that the U.S. labor market surprised many again. Nonfarm Payrolls grew by 119,000 in September, significantly exceeding the forecast of 50,000. Although the unemployment rate increased slightly from 4.3% to 4.4%, traders concentrated on the stronger hiring data.
Weak Risk Sentiment and U.S.-India Trade Uncertainty Add to Rupee Strain
Rahul Kalantri, VP of Commodities at Mehta Equities Ltd, mentioned, “The rupee fell to an all-time low of 89.48 against the U.S. dollar on Friday, impacted by weak global risk sentiment and uncertainty around the U.S.-India trade dispute.”
Kalantri noted that a steady dollar index, which rose above the critical 100 mark after the stronger-than-expected U.S. non-farm payroll data and hawkish Fed comments about delaying rate cuts, put further pressure on the rupee. This currency is now one of the weakest major performers in Asia this year, as foreign investors have pulled out $16.5 billion from Indian stocks so far.
Global Currency Movements and Market Reactions Intensify Rupee Weakness
“Today’s USDINR weekly close above 89.20 is a bad sign for the rupee. We expect the rupee to weaken further toward 90.40 and 91, while the key support stands at 88.45.”
Adding to the strength of the U.S. dollar was the sharp decline of the Japanese yen, which fell to a 10-month low near 157.78 per dollar.
Investors rushed to sell Japanese assets amid fears of a record stimulus package expected to be announced by Prime Minister Sanae Takaichi. This selloff pushed borrowing costs in Japan to all-time highs, sending a warning signal through global markets,” said MD and CEO of CrForex Advisors.
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