Indian rupee hit a record low of near 92.00 against the US dollar in early trade on Thursday amid broad weakness across Asian currencies as the greenback recovered. The Indian rupee opened at a low of 91.99 per US dollar as against its previous close of 91.78 level.

Sustained outflows of foreign capital flows and a rush to hedge against further depreciation overshadowed impulses from a buoyant domestic economy, leading to the local currency touch an all-time low.

The dollar index recovered slightly after the US Federal Reserve’s policy decision, while US Treasury yields rose after the Fed acknowledged that inflation remained elevated and the labour market continued to stabilize.

On the domestic front, Union Finance Minister Nirmala Sitharaman will table the Economic Survey 2025–26 in Parliament today, ahead of the Union Budget on February 1.

The Indian stock market traded lower amid weak global market cues and persistent selling by foreign institutional investors (FII). The Sensex traded 413.40 points, or 0.50%, lower at 81,931.28, while the Nifty 50 was down 122.35 points, or 0.48%, at 25,220.40.

Meanwhile, a rally in crude oil prices also pressurized the rupee. Brent crude oil price gained 1.32% to $69.30 a barrel, while the US West Texas Intermediate (WTI) crude futures rose 1.38% to $64.08.