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Clear out junk files and repair common Windows errorsFree Scan →Scan for outdated or missing drivers - takes under a minuteDriver Scan →The Indian rupee closed at a then-record low of 88.75 per US dollar on September 23, 2025, according to Scroll’s report based on PTI. Coverage at the time pointed to foreign fund outflows and concern about US policy as pressures on the currency, but did not establish any one factor as the sole cause. The record was later surpassed: Reuters reported a close of 93.71 per dollar on March 20, 2026.
What happened on September 23, 2025?
The rupee opened at 88.41 per dollar, weakened to an intraday low of 88.82, and closed at 88.75, Scroll reported based on PTI. The close was 47 paise weaker than the previous session’s 88.28 and below the previous record low of 88.44, set on September 11, 2025.
| Measure | Reported value | Source and date |
|---|---|---|
| Opening rate | 88.41 per US dollar | Scroll, based on PTI; September 23, 2025 |
| Intraday low | 88.82 per US dollar | Scroll, based on PTI; September 23, 2025 |
| Closing rate | 88.75 per US dollar, described as provisional | Scroll, based on PTI; September 23, 2025 |
| Previous session’s close | 88.28 per US dollar | Scroll, based on PTI; September 22, 2025 |
| Previous record low | 88.44 per US dollar | Scroll, based on PTI; September 11, 2025 |
Reuters reported the same session’s close as 88.7550 and its intraday low as 88.7975. The small differences from Scroll’s figures reflect different reported precision and intraday values; these are media-reported market figures, not an official RBI reference rate.
Why did the rupee fall to 88.75?
Contemporaneous reports cited sustained foreign fund outflows and concern about US policy. Reuters said pressure included US tariffs and the announced increase in the H-1B visa fee. It also reported that likely intervention by the Reserve Bank of India helped limit the rupee’s losses.
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These were market explanations and trader assessments reported at the time, not proof that any single development caused the decline. Exchange rates can respond to several influences at once, and the reports do not quantify how much each factor contributed.
Is 88.75 still the rupee’s record low?
No. “Record low” described the market at the time of the September 2025 close; it is not the current record in the figures reported here. Reuters reported that the rupee closed at 93.71 per dollar on March 20, 2026, after reaching 93.7350 intraday, surpassing its previous record low of 92.63.
That March 2026 episode was distinct from the September 2025 move. Reuters linked the later fall to concerns about energy supplies during the Iran war, higher oil prices, and foreign equity outflows. It reported more than $8 billion in foreign investor outflows from Indian equities during March 2026; those outflows should not be confused with the earlier account of September 2025 pressures.
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