Rupee crosses 91: Sharp fall, but not a crisis; experts explain.

• The Indian Rupee crossed the 91 mark against the US Dollar on December 16, 2025, after first breaching 90 on December 3, 2025.
• Key factors contributing to the Rupee's depreciation include continuous FPI outflows, dollar demand from NDF maturity, and uncertainty surrounding the India-US trade deal.
• The government attributes pressure to high dollar demand, while the RBI states it intervenes only to manage excessive volatility, not to target a specific Rupee level.
• Despite the fall, the RBI does not consider it a crisis-level concern, citing India's strong economic growth (GDP over 8%) and robust forex reserves.
• High volatility in the Rupee is expected to continue until there is clarity on trade deals and an improvement in fund flows.

Why It Matters: Rupee's fall to 91 signals economic pressure, but not a crisis.