Rupee Hits Record Low as Net FDI Outflows Continue; RBI Intervenes in Forex Market

In November 2025, India's rupee hit a record low of 91.75 against the US dollar amid persistent foreign capital outflows. Net foreign direct investment (FDI) recorded outflows for the third consecutive month, totaling $446 million, driven by high repatriation despite steady gross inflows mainly from Japan, Singapore, and the US. The Reserve Bank of India (RBI) intervened in forex markets, selling dollars and conducting swaps to stabilize the rupee, while net short dollar positions in the forward market increased to $66 billion.