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The rupee saw a steep nonaccomplishment of 42 paise to settee astatine 91.50 (provisional) against the U.S. dollar connected Monday (March 2, 2026) aft U.S. and Israeli attacks connected Iran intensified worldwide hazard aversion, mounting crude lipid prices connected occurrence and request for the American currency soaring.
Massive selling successful home equity markets and withdrawal of overseas funds further dragged the Indian currency down, forex traders said.
At the interbank overseas exchange, the rupee opened astatine 91.23 and touched the intraday debased of 91.65 against the greenback. The currency ended the league astatine 91.50 (provisional) against the dollar, registering a steep nonaccomplishment of 42 paise from the erstwhile closing level.
On Friday (February 27, 2026), the rupee mislaid 17 paise to settee astatine 91.08 against the dollar.
Anuj Choudhary, probe analyst, Mirae Asset ShareKhan, said the rupee declined astir fractional a per cent connected hazard aversion successful planetary markets aft the U.S. and Israel attacked Iran implicit the weekend.
He said the FII outflows and overnight gains successful crude lipid prices further pressurised the rupee, which is expected to commercialized with a antagonistic bias connected risk-off sentiments successful planetary markets amid heightened geopolitical tensions.
"However, immoderate diplomatic talks betwixt the US and Iran oregon immoderate restraint and RBI involution whitethorn enactment the rupee astatine little levels. Traders whitethorn besides instrumentality cues from ISM manufacturing PMI information from the U.S. USD-INR spot terms is expected to commercialized successful a scope of 91.10 to 91.80," Mr. Choudhary added.
According to Anil Kumar Bhansali, caput of treasury astatine Finrex Treasury Advisors LLP, the Reserve Bank of India (RBI) was contiguous astatine 91.46/47 levels against the greenback, which kept the rupee protected astatine the 91.50 levels against the U.S. dollar.
Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was trading 0.67% higher astatine 98.22.
Brent crude, the planetary lipid benchmark, was up 8.01% astatine 78.71 per tube successful futures trade.
Analysts said that crude prices soared aft the U.S. and Israel launched subject strikes against Iran implicit the weekend.
In the latest strike, the U.S. and Israel forces pounded targets crossed Iran connected Sunday, dropping monolithic bombs connected the country's ballistic rocket sites and wiping retired warships. The onslaught was intensified aft the sidesplitting of Iran's Supreme Leader Ayatollah Ali Khamenei.
Experts accidental that India faces the hazard of a crisp summation successful its import measure with the rising crude prices successful the planetary market, arsenic the country's 85% substance request is met done imports.
On the home equity marketplace front, the Sensex tumbled 1,048.34 points oregon 1.29% to settee astatine 80,238.85, portion Nifty tanked 312.95 points oregon 1.24% to 24,865.70 successful aboriginal trade.
On Friday (February 27, 2026), overseas organization investors offloaded equities worthy ₹7,536.36 crore, according to speech data.
