India/Economy/Indian rupee hits record low against dollar amid Middle East conflict

Indian rupee hits record low against dollar amid Middle East conflict

Mar 24, 202624 sources

Summary

The Indian rupee fell sharply, breaking past 93 rupees per U.S. dollar to hit a record low. The drop was driven by market jitters over the conflict between Iran and Israel, which raised concerns about higher global oil prices. India is a major oil importer, so rising oil costs put pressure on its currency and economic outlook.

State-run banks, widely seen as acting on behalf of the Reserve Bank of India (RBI), stepped in to sell U.S. dollars. This intervention helped the rupee rebound slightly from its lowest point, though worries about oil prices continued.

Source Headlines

24 headlines from 9 publishers

Indian rupee hits record low as prolonged oil spike pressures economic outlook

Mar 23

Indian shares fall, rupee at record low as Middle East tensions grip markets

Mar 23

Indian shares fall, rupee drops to record low as Iran war rattles markets

Mar 23

Rupee breaches 93 per dollar to hit record low as Iran war risks deepen

Mar 20

Rupee sinks past 93 per dollar to record low as Iran war risks deepen

Mar 20

Indian rupee weakens in NDF, set to slide past 93 as oil surges

Mar 19af

Rupee averts record low on state-run banks' dollar sales; oil worries persist

Mar 16

Rupee teeters near record low, likely central bank hand offers shield

Mar 16

Energy supply worries to keep Indian rupee, bonds under strain

Mar 16

Rupee trims losses after hitting record low, all eyes on oil prices

Mar 12

Rupee falls to record low as fears of prolonged Mideast war hit Asia FX

Mar 9

Rupee tumbles to record low on Mideast war, central bank likely steps in

Mar 4

Rupee falls to one-month low, equities slump as Iran war jolts markets

Mar 2