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Currency Buzz: INR tanks as local equities extend losing spree
09-Jan-2026 16:10
Indian Rupee slumped today, breaking above 90 per US dollar mark as local equities tanked to around two-month low. INR currently quotes at 90.16, down 26 paise on the day. The US dollar index spiked impressively to approach one-month high while worries over US-India trade deal kept INR under check. Dollar gained as the UN noted that US economic growth is forecast to edge up to 2.0 per cent in 2026 and 2.2 per cent in 2027, supported by expansionary fiscal and monetary policies. US economic growth slowed from 2.8 per cent in 2024 to an estimated 1.9 per cent in 2025. Inflation will likely remain above the 2 per cent target in 2026, though it should gradually moderate as tariff effects wane and housing costs stabilize.

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