The rupee in 2026: down against every major currency

The rupee against the big four

Between 31 December 2025 and 9 September 2026 the rupee has weakened against the dollar, the euro, the pound and the yen.

The two columns are the same move seen from each side. When the dollar rises 5.63% in rupees, a rupee buys 5.33% fewer dollars.

The rates are daily closing rates from the series behind our currency converter, which goes back to September 2016.

Every currency in the table

We track 16 currencies quoted directly against the rupee. All 16 are dearer in rupees than at the start of the year.

The second column explains the order. The rupee's fall against the dollar is common to every row; what differs is how each currency did against the dollar itself. The Australian dollar rose 7.84% against the dollar, so it rose by much more than that against the rupee. The baht and the krona fell about 4% against the dollar, so the rupee lost only about 1% to them.

The UAE dirham is a useful check on the data. It is pegged to the dollar, and over the year it moved just 0.03% against it.

Record lows, and the one exception

Against 15 of the 16 currencies, the rupee's weakest close in our ten-year series has come in 2026. A selection:

The yen is the exception. At ₹61.74 per 100 yen the rupee is weaker than at the start of the year, but well away from the ₹71.87 it took to buy 100 yen in March 2020.

Against the dollar the rupee has set 26 record-weak closes this year: five in January, ten in March, one in April, eight in May and two in July. None has come since 24 July. Since then it has recovered a little, to ₹94.82.

The dollar's path through the year

The biggest monthly moves came in January (₹2.01) and March (₹3.35); May added ₹1.13 and June gave back ₹1.26. Since the start of June every close has been between ₹94.33 and ₹96.88, apart from a single print of ₹93.55 on 26 August that was back at ₹95.43 the next day.

What this does not tell you

These are market rates, not RBI reference rates, and our daily series has occasional one-day oddities; we check the endpoints against nearby days.

The causes are outside this data. Interest rates, trade, capital flows and the dollar's own swings all move these rates. We record what happened, not why.

A weak rupee cuts both ways. It raises the rupee value of foreign assets, which helps international funds, and raises the cost of anything priced abroad. Our guide on currency risk covers both sides.

A level is not a forecast. Where a rate has been says nothing about where it goes next.

Where to go from here

Convert any amount with the currency calculator. Our earlier posts track the slide as it happened: the first quarter and the weakest close in May. For how foreign investors' flows ran alongside, see the August flows post.