NEWS
Rupee sinks to new low of Rs 93.72 per dollar
In FY26, the rupee has depreciated 8.8% so far, the steepest fall since FY14; decline in March alone is 2.92%.
In FY26, the rupee has depreciated 8.8% so far, the steepest fall since FY14; decline in March alone is 2.92%.
The rupee sank to a new low of 93.72 against the dollar on Friday amid rise in crude oil prices due to the ongoing US-Iran war and foreign fund outflows.
The dollar demand also stayed strong from oil-marketing companies, leading to the rupee hitting an intraday low of 93.77. The rupee, in fact, crashed 82 paise or nearly 1%.
The Indian currency has depreciated 8.8% this fiscal, the steepest fall since FY14 when it saw a softening of 9.37%. The rupee has shed 2.92% so far in the month of March.
The fall would have been worse had the Reserve Bank of India (RBI) not intervened by selling dollars, forex traders said.
The rupee will continue to be vulnerable and would have a downward bias to breach the 94-per-dollar mark if the conflict in the Middle East continues, dealers said.
