Rupee rebounds from all-time low to 91.85 against U.S. dollar

Rupee rebounds to 91.85 against the U.S. dollar, supported by equity gains and falling crude oil prices.

The rupee staged a strong recovery from its record low against the U.S. dollar on Tuesday (March 10, 2026), gaining 36 paise to settle at 91.85 (provisional), aided by a sharp fall in global crude oil prices over hopes of de-escalation of the ongoing conflict in West Asia.

Sharp gains in the domestic equity markets, along with a weaker greenback, provided further support to the domestic unit, according to forex traders.

At the interbank foreign exchange, the rupee opened at 91.92 against the U.S. dollar and traded in the range of 91.71-92.19 before settling at 91.85 (provisional), up 36 paise from its previous close.

The rupee crashed to its all-time closing low of 92.21 against the U.S. dollar on Monday (March 9, 2026), down 39 paise, as global crude oil prices saw a sharp spike, and the greenback strengthened.

"The rupee recovered from all-time lows on easing risk-off sentiments in global markets after U.S. President Donald Trump suggested that the war with Iran could end soon as they have met their military objectives. Overnight decline in dollar index and a sharp fall in crude oil prices, too, favoured the rupee," Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan, said.

"We expect the rupee to trade with a slight positive bias on positive domestic markets and weak dollar. USD-INR spot price is expected to trade in a range of 91.60-92.20," he said.