ADVERTISEMENT
ADVERTISEMENT
Indian rupee crosses 93 against US dollar for 1st time
The rupee has depreciated nearly 2 per cent since the West Asia tensions began.
-
IANS - Fri, 20, Mar 2026
- 02:13 EDT
- 14
A man walks past a logo of the Reserve Bank of India (RBI) and the Indian Rupee inside the RBI headquarters in Mumbai, India, December 6, 2024. / REUTERS/Francis Mascarenha
The Indian rupee dropped to a record low on March 20 to 93.12 against the U.S. dollar, amid global supply chain disruptions due to escalating Middle East conflict.
The domestic currency fell 0.55 per cent to 93.12, eclipsing its previous low of 92.63 on March 18.
The rupee has depreciated nearly 2 per cent since the West Asia tensions began.
According to experts, the USD/INR pair is trading above the 92.8 level, indicating continued pressure on the rupee amid elevated crude prices and global risk aversion.
A sustained move above 93.00 could strengthen the upside bias, with resistance seen in the 93.20–93.40 range, while support is placed near 92.70 and 92.50–92.40 levels, said Ponmudi R, CEO of Enrich Money.
ALSO READ: Beyond tariffs: Why the India U.S. trade deal signals a strategic shift
Domestic equity markets, however, rebounded, with the Sensex rising over 900 points, or around 1 per cent, while the Nifty gained about 300 points, or 1.35 per cent.
Foreign institutional investors (FIIs) remained net sellers, offloading equities worth Rs 7,558.19 crore on March 19, according to exchange data.
Meanwhile, global oil prices traded lower after the U.S. signalled a possible easing of sanctions on Iranian crude, as efforts intensified to secure shipping through the Strait of Hormuz.
Brent crude futures fell as much as 3.39 per cent to an intraday low of $104.96 per barrel, while U.S. WTI crude futures traded 3.22 per cent lower at $92.47.
The decline in oil prices followed comments by U.S Treasury Secretary Scott Bessent, who indicated that Washington may consider easing restrictions on Iranian oil already at sea to help cool global prices.
Despite the recent decline, crude prices have surged sharply amid geopolitical tensions. As the West Asia conflict entered its 21st day, Brent crude rose nearly 40 per cent, from $77.74 on March 2 to $108.65 on March 19.
Discover more stories on NewIndiaAbroad
Related
ADVERTISEMENT
ADVERTISEMENT
E Paper
Video
Comments
Start the conversation
Become a member of New India Abroad to start commenting.
Sign Up Now
Already have an account? Login