Indian Rupee Hits Record Low of 91.97 Against US Dollar Ahead of 2026 Budget

• The Indian Rupee settled at a record low of 91.97 against the US dollar, touching 92.02 intraday.
• The rupee's fall coincided with a decline in the Indian stock market, with Sensex and Nifty closing in the red.
• In 2025, the rupee had already depreciated by approximately 6% against the US dollar.
• LKP Securities' Jateen Trivedi suggests lower commodity prices could offer some support to the rupee by reducing import bills.
• Despite the rupee's weakness, the Economic Survey 2025-26 asserts that India's economic fundamentals remain strong, attributing the decline to external factors.

Why It Matters: Indian Rupee hits new record low against US dollar, but Economic Survey maintains strong economic fundamentals.