This picture is used for consultant functions solely. |Picture offered by: Reuters
On Monday (March 9, 2026), the rupee plummeted to an all-time low of 92.35 (provisional) in opposition to the US greenback, dropping 53 paise throughout buying and selling, because the greenback strengthened amid hovering world oil costs and escalating conflicts in West Asia.
Foreign exchange merchants mentioned the withdrawal of overseas funds amid intense promoting within the home inventory market put additional strain on the rupee.
Within the interbank overseas trade, the rupee opened at 92.22 and rose to 92.15 at one level, however continued to fall throughout buying and selling and at last settled at an all-time low of 92.35 (provisional), down 53 paise from the earlier shut.
The rupee depreciated by 18 paise in opposition to the US greenback on Friday (March 6, 2026) and closed at 91.82 paise in opposition to the American foreign money.
“The rupee opened sharply decrease, hitting a brand new file low of 92.35 following weak world markets and an in a single day spike in crude oil costs. Crude oil costs rose about 25% in Asian time. A stronger greenback and FII outflows additionally weighed on the rupee,” mentioned Anuj Chaudhary, analysis analyst at Mirai Asset Sharekhan.
“We count on the rupee to commerce with a unfavorable bias as a result of weak world market sentiment and robust greenback amid geopolitical tensions within the Center East. Nonetheless, any intervention by central banks might assist the rupee at decrease ranges,” he mentioned, including that the spot worth of USD/Indian rupee is anticipated to commerce within the vary of $92-92.80.
Brent crude, the world oil benchmark, was buying and selling 15.18% increased at $106.8 per barrel in futures buying and selling because the struggle between the US, Israel and Iran escalates.
The greenback index, which measures the greenback’s energy in opposition to a basket of six currencies, was buying and selling 0.35% increased at 99.33.
Within the home inventory market, the Sensex fell by 1,352.74 factors to shut at 77,566.16, whereas the Nifty fell by 422.40 factors to 24,028.05.
International institutional buyers bought shares price Rs 6,030.38 crore on a internet foundation on Friday (March 6, 2026), in line with trade information.
In the meantime, the Reserve Financial institution of India introduced on Friday (March 6, 2026) that India’s overseas trade reserves elevated by $4.885 billion within the week ending February 27 to a file $728.494 billion.
