Rupee Hits Record Low of 95.20 Against Dollar Amid Global Pressure

 

The Indian rupee fell to a historic ₹95.20 per dollar on Monday, March 30, 2026, before closing at a record low of ₹94.83, despite intervention by the Reserve Bank of India (RBI).

The sharp fall comes amid rising global tensions and surging crude oil prices, putting pressure on emerging markets like India.

The rupee has declined 4.4% in March, marking its worst monthly drop in over seven years. Equity markets also weakened, with the Nifty 50 falling 2.1%, while Sensex and Nifty are down nearly 11% this month.

Experts say the fall is driven by high oil prices, foreign investor outflows, and global uncertainty. As India imports over 85% of its crude oil, rising prices are increasing the country’s import bill and demand for dollars.

To stabilize the currency, the RBI has introduced new limits on banks’ dollar positions, effective April 10. However, the move has caused short-term volatility as banks adjust their holdings.

Analysts warn that the rupee may remain under pressure in the coming weeks unless oil prices ease and foreign investment returns.