Rupee opens 5 paise down at 90.14 against the dollar on FPIs outflows

Indian Rupee

The rupee opened 5 paise down on December 9 on weak portfolio flows and higher dollar demand in the non-deliverable forwards market, currency experts said.

The rupee opened at 90.14 against the dollar after ending the previous session at 90.09 against the greenback.

"Amid all the noise, the rupee kept weakening, not sharply, but consistently. Foreign investors have already sold over a billion dollars this month, pushing total outflows near $17 billion for the year. With so much money exiting, dollar demand rises and the rupee naturally comes under pressure," said Amit Pabari, managing direct at CR Forex Advisors.

According to Bloomberg data, the rupee still remains the worst performing currency in Asia after the Indonesian rupiah and the Philippine peso.

The rupee has depreciated against the dollar by 4.7 percent YTD in 2025, and over 5.8 percent in past year, Bank of America has said in a note. In REER terms, the weakness has been even larger, with YTD weakness at an estimated 8.6 percent until November, and 1 year at 12.1 percent.

"This is a large amount of weakness both from the current episode and from a historical context, as the rupee had weakened something around 8.7 percent in 2018, 14 percent in 2013, and 18.7 percent in 2008, the previous episodes of large-scale depreciation in the rupee," it said

"Even though the RBI has been letting the rupee weaken to reduce pressure on the exchange rate markets, we believe the RBI will likely stay involved in both the spot and

forwards market, providing liquidity and curbing volatility," it added.