Rupee slumps 50 paise to settle at fresh record low of 94.03 against U.S. dollar

The rupee breached the 94/dollar obstruction for the archetypal time, slumping 50 paise to a caller grounds closing debased of 94.03 (provisional) against the greenback connected Monday (March 23, 2026), arsenic spiralling planetary crude prices and unabated overseas money outflows unnerved investors.

A strengthening U.S. dollar and a steep diminution successful the home equity markets further weakened the section unit, forex traders said.

At the interbank overseas exchange, the section portion opened astatine 93.84 and kept losing crushed passim the day, earlier breaching the 94-mark against the U.S. dollar for the archetypal clip to settee astatine 94.03 (provisional), down 50 paise from its erstwhile close.

The rupee went past the 93-mark against the greenback connected Friday (March 20) aft crashing 64 paise to settee astatine 93.53.

"The rupee deed caller all-time lows connected Friday (March 20) and breached the 94-mark for the archetypal clip amid escalating geopolitical tensions successful West Asia and anemic home markets. Surge successful crude lipid prices and FII outflows, too, weighed connected the rupee," Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan, said.

"We expect the rupee to commercialized with a antagonistic bias arsenic deteriorating planetary sentiments and geopolitical tensions whitethorn support the rupee nether pressure. However, time-to-time involution by the Reserve Bank whitethorn enactment the rupee astatine little levels," helium said, adding that the USD-INR spot terms is expected to commercialized successful a scope of ₹93.60-94.40.

The dollar index, which gauges the greenback's spot against a handbasket of six currencies, was trading 0.14% higher astatine 99.78.

Brent crude, the planetary lipid benchmark, was trading 1.11% little astatine $113.4 per tube successful futures trade.

On the home equity marketplace front, the Sensex crashed 1,836.57 points, oregon 2.46%, to 72,696.39, portion Nifty slumped 484.30 points, oregon 2.10%, to 22,630.20.

Foreign organization investors sold equities worthy ₹5,518.39 crore connected a nett ground connected Friday (March 20), according to speech data.

Meanwhile, India's forex reserves dropped $7.052 cardinal to $709.759 cardinal during the week ended March 13, the RBI said connected Friday (March 20).