Indian Rupee hit an all-time low of 93.24 against the US Dollar

Indian Rupee hit an all-time low of 93.24 against the US Dollar

¨     On March 20, 2026, the Indian Rupee hit an all-time low of 93.24 against the US Dollar.

¨  This decline in the Rupee is attributed to a rising oil import bill and the continuous withdrawal of funds from the Indian market by foreign investors. The conflict in the Middle East has plunged the world into a crisis.

¨     Amid fears of an impending energy crisis, prices for crude oil and natural gas are surging, placing other global currencies under pressure against the Dollar.

¨     The Indian currency, too, has felt the impact of the Dollar's strength. On March 19, 2026, Brent crude oil reached $119 per barrel, following which the Rupee breached the 93-mark.

Rupee Falls Against US Dollar

¨  The Rupee depreciated by 0.65% against the US Dollar, falling to 93.24—a level even lower than the previous record low of 92.63 recorded on March 18, 2026. This marks the first time in Indian history that the Rupee has crossed the 93-mark against the Dollar. Since the outbreak of the US-Iran conflict, the Indian currency has depreciated by approximately 2 percent.