Advanced International Journal for Research

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The Changing Value of the Rupee: A Study of Its Impact on Maharashtra’s Economy (1991–2026)

Author(s) Tanya Patel, Dev Tandon, Kriti Gupta, Sarthak Shrivastav
Country India
Abstract In recent years, fluctuations in the value of the Indian rupee against the U.S. dollar have become an important issue for the economy of India. When the rupee decreases in value, it is known as rupee depreciation, and this can have widespread economic effects across the country. In 2025, the rupee weakened considerably and crossed the historic level of ₹90 per U.S. dollar. This decline occurred due to factors such as rising global interest rates, the movement of investment funds out of India, and strong demand for imported goods.
This study examines the reasons behind these exchange rate fluctuations and their economic implications for India, with particular emphasis on the economy of Maharashtra. Maharashtra is one of India’s major industrial centers, with key industries including automobile manufacturing, pharmaceuticals, information technology (IT), and textiles. Changes in the dollar–rupee exchange rate affect these sectors in different ways. Export-oriented businesses may benefit from a weaker rupee, while companies that depend on imported raw materials often face higher costs. These changes also influence inflation levels, the flow of foreign investment into the state, and household spending.
Using data from institutions such as the Reserve Bank of India, the International Monetary Fund, and the World Bank, along with reports from Reuters and Business Standard, this study analyzes trends during the period from 1991 to 2026. The findings indicate that although rupee depreciation may benefit certain export-oriented industries in Maharashtra, it also increases the cost of living and creates economic uncertainty. The study recommends policy measures such as diversifying exports and strengthening energy security to support economic stability.
Keywords Rupee Depreciation, Exchange Rate Fluctuation, Dollar–Rupee Rate, Inflation, Trade Balance, Foreign Investment, Maharashtra Economy, Forex Reserves, Currency Volatility.
Field Business Administration
Published In Volume 7, Issue 2, March-April 2026
Published On 2026-04-25
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