Rupee
Rupee hits record low, breaches 93 against US dollar for first time
Mumbai/IBNS: The Indian rupee on Friday extended its losses, hitting a record low of 93.24 against the US dollar.
The domestic currency weakened further amid rising crude oil prices, persistent foreign fund outflows, and a strengthening dollar.
So far in 2026, the rupee has depreciated 2.63%, with nearly 1.8% of the decline occurring since the onset of the West Asia conflict.
Crude oil prices surged to nearly $120 per barrel on Thursday, tracking attacks on key energy infrastructure in the Gulf region.
Higher energy costs have triggered significant foreign fund outflows, with investors pulling out over $8 billion from Indian markets in March — the highest monthly outflow since January 2025, according to a CNBC-TV18 report.
Meanwhile, the Indian stock market staged a strong rebound on Friday, partially recovering from the steep losses in the previous session.
The BSE Sensex surged nearly 900 points at the opening bell after plunging close to 2,500 points on Thursday. The Nifty 50 also gained 270 points, supported by easing crude oil prices.
Despite the early recovery, analysts cautioned that markets are likely to remain volatile amid ongoing geopolitical tensions linked to the West Asia conflict.
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