At the interbank foreign exchange market, the rupee opened at 92.05, then fell to an early low of 92.18 against the American currency, registering a fall of 69 paise from its previous close.
| Photo Credit: Reuters
Rupee slumped 69 paise to an all-time low of 92.18 against the U.S. dollar in early trade on Wednesday (March 4, 2026), as a sharp spike in crude oil prices amid geopolitical tensions following the escalation of the U.S.āIran conflict weighed on investor sentiment.
Forex traders said the domestic currency is under severe pressure due to a sharp spike in crude oil prices, with Brent Crude crossing the $82 per barrel level in futures trade in the wake of the Iran crisis, which dented investor sentiments.
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At the interbank foreign exchange market, the rupee opened at 92.05, then fell to an early low of 92.18 against the American currency, registering a fall of 69 paise from its previous close.
On Monday (March 2), the rupee had settled at 91.49 against the U.S. dollar.
The forex Market was closed on Tuesday on account of Holi.
Traders said the USD/INR pair remains under pressure as investors are moving toward safe-haven assets. Moreover, persistent foreign capital outflow from the equities, and fears grow that expensive imports will hurt the trade balance.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.03% higher at 99.08.
Brent crude, the global oil benchmark, was up 1.01% at $82.22 per barrel in futures trade, following the escalation of the U.S.-Iran crisis.
Experts say that India faces the risk of a sharp increase in its import bill with the rising crude prices in the international market, as the country’s 85% fuel requirement is met through imports.
On the domestic equity market front, the Sensex tumbled 1,671.39 points or 2.08% to 78,567.46, while Nifty tanked 502.35 points or 2.02% to 24,363. 35 in early trade.
On Monday (March 2), foreign institutional investors offloaded equities worth ā¹3,295.64 crore, according to exchange data.
Published – March 04, 2026 10:30 am IST
