USD vs INR: Indian Rupee hits record low of 92.33 against US dollar amid rising crude oil prices
The Indian Rupee touched record low of 92.33 on Monday, March 9, as a sharp rise in global oil prices fueled by the escalating Middle East conflict heightened worries about India’s external balances. The rupee opened 0.50% lower, or 46 paise down, at 92.1975 per US dollar. The rupee ended at 91.74 on Friday, March 6.
The drop of over 50 paise from the close on Friday (March 6) represents one of the steepest single-day declines in recent months, underscoring the increasing pressure on the rupee.
