Will Indian rupee drop to 100 against US dollar amid Iran war?
The Indian rupee has hit a record low of 93.94 against the US dollar amid the Iran war and rising oil prices. Analysts believe that while the rupee may continue to weaken, a drop to 100 against the US dollar is unlikely due to potential policy interventions and inflation risks.
The Indian rupee hit a record low of 93.94 against the US dollar on March 23, 2026. This is due to rising oil prices and foreign portfolio investor outflows. The rupee's weakness is driven by global and domestic factors, including crude oil prices and a widening trade deficit. India imports over 85% of its crude oil needs, making it vulnerable to price fluctuations. The country's balance of payments is expected to stay in deficit for two straight financial years. Analysts believe that the rupee may continue to weaken, but a drop to 100 against the US dollar is unlikely.
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