Updated 13 March 2026 at 10:56 IST
Rupee Hits Record Low of 92.39 as $100 Oil and Iran War Jolt Indian Markets
The Indian rupee hit a new lifetime low of 92.39 against the US dollar as a permanent blockade of the Strait of Hormuz kept oil prices near $100, forcing the RBI to aggressively deploy reserves to prevent a steeper collapse.
- Republic Business
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The Indian rupee hit a new lifetime low of 92.39 against the US dollar | Image:
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The Indian rupee fell to a lifetime low on Friday on worries that sustained high oil prices would heighten risks for India’s economy as the war in the Middle East rages on, injecting turbulence into global financial markets.
The rupee fell to 92.39 per dollar, eclipsing its previous all-time low of 92.3575 hit in the previous session.
The currency has declined over 1% since the Iran war started but has fared better than some of its emerging market peers on account of market interventions by the Reserve Bank of India.
Oil prices remained near the closely watched $100 per barrel level, up from around $70 before the Middle East conflict started.
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Published By : Shourya Jha
Published On: 13 March 2026 at 10:56 IST