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Rupee Falls 89p, The Most Since February 2023

Hindustan Times Navi Mumbai

|

May 09, 2025

The Indian rupee fell nearly 1% on Thursday amid rising tensions between India and Pakistan.

- Gopika Gopakumar

MUMBAI:

The local currency opened at 84.61 and moved between an intra-day high of 84.52 and a low of 85.77 against the dollar. It closed 89 paise lower at 85.72, marking the worst day since 6 February 2023.

Both the currency and stock markets declined on Thursday after India confirmed it had targeted air defence radars and systems at a number of locations in Pakistan, while Pakistan's military said it had shot down 25 Indian drones.

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