On Friday, March 13, 2026, the Indian rupee hit a fresh all-time intra-day low against the US dollar, with reports citing figures between 92.37 and 92.44 in early trading
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Summary
On Friday, March 13, 2026, the Indian rupee hit a fresh all-time intra-day low against the US dollar, with reports citing figures between 92.37 and 92.44 in early trading. The currency's decline was driven by multiple factors, including rising global crude oil prices due to the ongoing conflict in West Asia, a stronger US dollar, and heavy foreign institutional investor (FII) outflows. The rupee had already weakened significantly in the previous session, settling at a record low closing level of 92.25. Forex traders attributed the sustained pressure to weak domestic market sentiment and sustained selling in equity markets. The currency opened at 92.33 before falling further during the day.
★ Why It Matters
The rupee's record low reflects heightened economic vulnerability, driven by external shocks like geopolitical conflict affecting oil prices and internal capital flight. This depreciation increases import costs, fuels inflation, and pressures India's current account, potentially forcing monetary policy adjustments.