Indian Rupee Hits Record Low on Oil and Outflow Strain
The Indian rupee dropped to an all-time low of 95.7375 per dollar as fading hopes for a U.S.-Iran peace deal drove Brent crude futures to 107.4 dollars. The central bank likely intervened to support the currency while foreign investors pulled over 20 billion dollars from Indian equities since late February.
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India's rupee fell to a record low of 95.7375 per dollar on Tuesday as rising oil prices and capital outflows pressured the currency. The rupee has weakened 5% since the Iran war began, trailing all major Asian currencies in 2026. Sustained energy costs threaten to widen the current account deficit and force aggressive central bank intervention or import curbs.
