Rupee hits record intra-day low, falls 12 paise to 92.37 against U.S. dollar

The rupee slumped 12 paise to its record low of 92.37 against the U.S. dollar in early trade on Friday (March 13, 2026) as global crude oil prices showed no signs of easing amid the ongoing West Asian conflict.

A stronger greenback, heavy FII selling and weak sentiments in the domestic equity markets further weighed on the rupee, according to forex traders.

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At the interbank foreign exchange, the local unit opened at 92.33 and slipped further to hit its record intra-day low of 92.37 against the US dollar, down 12 paise from its previous close.

The rupee touched a fresh intra-day low of 92.36 on Thursday (March 12) and closed the session 24 paise down at its lowest level of 92.25 against the US dollar.

“Oil prices remained elevated after Iran said the Strait of Hormuz is closed permanently till the resolution of the crisis. The dollar index also rose, European and Asian currencies all fell against the dollar,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

The rupee has remained vulnerable and in the absence of the RBI could have reached 93.00 levels, he added.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.04% higher at 99.77.

Brent crude, the global oil benchmark, was trading higher by 4.99% at $96.57 per barrel in futures trade.

Foreign institutional investors sold equities worth ₹7,049.87 crore on a net basis on Thursday (March 12), according to exchange data.

Meanwhile, retail inflation moved up to 3.21% in February compared to 2.74% in the preceding month, driven mainly by higher food prices, government data released on Thursday (March 12) showed.