The sharp decline of the Indian rupee has exposed the weakness of India’s economy and undermined Prime Minister Narendra Modi’s economic claims.
According to international publication Reuters, the Indian rupee has been declared Asia’s worst-performing currency of 2026. Reuters reported that the rupee fell to a record low due to rising global bond yields and increasing energy prices.
The report stated that alongside the rupee’s decline, energy prices in India have also continued to rise at an alarming pace.
Reuters said that the Indian rupee, regarded as Asia’s weakest-performing currency in 2026, continues to set new records of depreciation. The publication stated that the rupee could fall to 96 against the US dollar by mid-2026 and decline again to 98 by the end of the year.
Economic experts said the Modi government artificially controlled the rupee and energy prices for political purposes, causing serious damage to the Indian economy. Experts added that the Indian public is bearing the consequences of failed economic policies and administrative incompetence in the form of soaring inflation and an energy crisis.
