Rupee Breaches 95 Mark Against US Dollar for the First Time
The Indian rupee has reached an all-time low of 93.77 against the US dollar due to rising crude oil prices and foreign portfolio investor outflows. This depreciation is expected to pose challenges for India's monetary policy and inflation outlook, with economists warning of further weakening if crude prices remain high.
The Indian rupee touched an all-time low of 93.77 against the US dollar. This sharp fall was caused by rising crude oil prices due to conflict in West Asia. The situation has been compounded by foreign portfolio investor outflows, with nearly $11.3 billion withdrawn from Indian markets in March. The Reserve Bank of India has increased its market interventions to curb volatility. India's foreign exchange reserves have declined sharply to around $709.8 billion. The rupee has depreciated over 4 percent against the dollar in 2026 so far.
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