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India’s rupee hits record low amid global trends, but economist says manufacturing exports and strong reserves ensure long-term stability.
India’s Chief Economic Adviser V Anantha Nageswaran stressed that strengthening manufacturing is key to long-term currency stability, noting export-led industrial growth improves external balances and exchange-rate credibility.
Despite the rupee hitting a record low of 91.99 against the dollar on January 29, 2026, he said the decline reflects broader emerging-market trends due to global monetary tightening and geopolitical volatility, not domestic weakness.
India’s external resilience has strengthened, with foreign exchange reserves nearly doubling to $701.4 billion by January 2026 and import cover rising above 11 months.
Nageswaran emphasized manufacturing exports over services as foundational for current account improvement, reserve accumulation, and currency strength, calling for strategic resilience through indigenization and competitiveness.
La rupia de la India alcanza un mínimo histórico en medio de las tendencias mundiales, pero el economista dice que las exportaciones manufactureras y las fuertes reservas aseguran la estabilidad a largo plazo.