Indian rupee drops to 91.74 per US dollar
The rupee wrapped up this week weaker at 91.74 per US dollar, dropping 77 paise on March 6, 2026.
This slide was mainly triggered by soaring crude oil prices and ongoing conflict in the Middle East.
Earlier in the week, the rupee even touched a record low of 92.15 before bouncing back a bit after the RBI stepped in.
Brent crude is now close to $87 a barrel
Global factors are hitting hard: Brent crude is now close to $87 a barrel, which means India's import bills are getting heavier and more dollars are needed to pay for oil.
As Amit Pabari from CR Forex Advisors put it, the pressure is mostly coming from outside.
Moody's also warned that costly energy imports could raise inflation, worsen the current-account balance and complicate monetary and fiscal management if they lead to expanded subsidies to help offset the economic shock, so the rupee might keep feeling the heat for a while.