To put the recent weakness in perspective, consider the pace of depreciation over time. Around 2000, the rupee was near 45 to the dollar. In 1975, the rupee stood at about 10 to the dollar. From then to now, the average annual depreciation works out to roughly 4.5%. At independence, when the rupee was on a par with the dollar, the long-term annual depreciation is closer to 6%.

Source: Mint January 08, 2026 14:31 UTC