The Indian rupee plunged to a fresh all-time low of 93.73 against the US dollar, its sharpest single-day drop since late 2022. This extends the depreciation trend that saw it weaken to 92.42 earlier in the week amid surging oil prices from West Asian conflicts and foreign investor outflows.
Building on its recent slide—having weakened to 92.42 against the USD on March 17, 2026, after breaching 90 in late 2025—the Indian rupee hit a historic low of 93.73 per US dollar. The Economic Times reported this as the steepest single-day fall since late 2022. Pressures intensified from elevated crude oil prices due to escalating West Asia tensions and continued foreign portfolio investor (FPI) outflows amid global volatility. Traders are watching for potential Reserve Bank of India (RBI) interventions, with forecasts indicating possible further weakening to 95. This highlights emerging market currencies' exposure to geopolitical risks and capital flight. Keywords: rupee depreciation, USD, West Asia conflicts, oil prices, FPI outflows, RBI, forex.
