Rupee crashes 33 paise to fresh record low of 94.29 against U.S. dollar

The rupee crashed 33 paise to a fresh all-time low of 94.29 against the U.S. dollar in early trade on Friday (March 27, 2026), weighed down by elevated oil prices and a stronger greenback amid no breakthrough in the West Asia conflict.

Heavy sell-off in domestic equity markets and sustained FII outflows put further pressure on the local unit, according to forex traders.

At the interbank foreign exchange, the local unit opened at 94.18 and slipped further to 94.29 against the greenback, down 33 paise from its previous close.

The rupee slumped 20 paise to close at a record low of 93.96 against the US dollar on Wednesday. Stock, forex, commodity, and bullion markets remained closed on Thursday (March 26) on account of Ram Navami.

“With Brent oil prices again going past $105.75 per barrel, and the dollar index rising towards 100, the rupee opened weak,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.08% higher at 99.67.

Brent crude, the global oil benchmark, rose overnight before easing towards the end, down 0.78% at $107.1 per barrel in futures trade.

“Brent oil was up to $107.50 per barrel but fell after U.S. President Donald Trump postponed strikes on Iranian power plants by 10 days,” Bhansali added.

On the domestic equity market front, the Sensex tumbled 926.92 points to 74,346.53 in morning trade, while Nifty was down 280.95 points to 23,025.50.

Foreign institutional investors sold equities worth ₹1,805.37 crore on a net basis on Wednesday (March 25), according to exchange data.