Rupee slumps to all-time low of 92.16 against U.S. dollar

Rupee plunges to record low of 92.16 against the dollar amid rising crude prices and global market turmoil.

The rupee slumped 67 paise to close at an all-time low of 92.16 against U.S. dollar on Wednesday (March 4, 2026), weighed down by spiking crude oil prices in the wake of the Iran crisis.

Forex traders said the dollar index crossed 98 levels on the risk-off situation prevailing all around the globe amid the U.S.-Iran crisis, further pressurising the rupee.

Moreover, massive selling in domestic equity markets and withdrawal of foreign funds further dragged the Indian currency down, they said.

At the interbank foreign exchange, the rupee opened at 92.05 and touched an all-time intraday low of 92.35 against the greenback. The currency ended the session at an all-time low of 92.16 (provisional) against the dollar, registering a steep loss of 67 paise from the previous closing level.

On Monday (March 2, 2026), the rupee saw a steep loss of 41 paise to settle at 91.49 against the U.S. dollar.

The forex Market was closed on Tuesday (March 3, 2026) on account of Holi.