Rupee crashes 82 paise to settle at 93.71 against U.S. dollar
The Hindu
The Indian rupee plummets 82 paise to a record low of 93.71 against the dollar due to rising crude prices and geopolitical tensions.
The rupee crashed 82 paise, or nearly 1%, to settle at an all-time low of 93.71 (provisional) against the U.S. dollar on Friday (March 20, 2026), weighed down by persistent foreign fund outflows and a steep rise in crude oil prices amid mounting geopolitical tensions.
Forex traders said the Indian rupee is under tremendous pressure as surging crude oil prices and a shift toward risk-aversion dented investor sentiments.
Moreover, heightened geopolitical uncertainty risks are driving energy costs higher, which could widen the trade deficit and stoke inflationary pressures, they added.
At the interbank foreign exchange, the local unit opened at 92.92 against the greenback and soon breached the 93-mark for the first time. It kept losing ground through the session and eventually settled at 93.71 (provisional), down 82 paise from its previous close.
On Wednesday (March 18, 2026), the rupee slumped 49 paise to close at its previous record low of 92.89 against the U.S. dollar.
Forex markets were closed on Thursday (March 19, 2026) on account of Gudi Padwa. "The rupee hit fresh all-time lows on Friday (March 20, 2026) amid geopolitical tensions in West Asia and FII outflows. Rising global crude oil prices, too, have pressured the rupee," Anuj Choudhary, Research Analyst, Commodities Research, Mirae Asset Sharekhan, said.
Warner Bros. dominated the Academy Awards, but Paramount’s looming acquisition of the studio signals the biggest restructuring of the industry in decades and a battle over the future of Hollywood itself
HDFC Bank board calls Atanu Chakraborty’s resignation baffling, affirms robust corporate governance and strong market confidence.
RNFI and Jio Payments Bank launch cardless UPI QR cash withdrawals for instant access across urban, semi-urban, and rural India.
RBI approves HDFC Bank's chairman transition plan, affirming the bank's strong financials and competent management.
Markets fall 2% as Israel attacks Iran’s South Pars gas field, pushing Brent crude above $112 and rupee below ₹93.
HDFC Bank shares drop over 4% following chairman’s ethical resignation, raising insider trading and management concerns.
Erran Berger, the Vice President of Product Engineering at LinkedIn, thinks the former type of division of labour is rapidly disappearing
India mandates oil and gas firms to share import and export data to mitigate consumer shortages amid rising global prices.
HDFC Bank's chairman Atanu Chakraborty resigns over ethical concerns; Keki Mistry appointed interim chairman for three months.
Stock markets continue to rise for the third day as Sensex and Nifty gain nearly 1%, fueled by IT stocks.
Indian-flagged vessels in the Strait of Hormuz carry 2 lakh MT LNG and 16.7 lakh MT crude, amidst geopolitical tensions.
Equity analysts downgrade earnings forecasts for oil marketing companies, citing rising costs and market pressures for fiscal 2027.
Plastic product prices may surge by 50-60% in April due to rising polymer costs amid ongoing geopolitical tensions.