USD/INR: Rupee Hits Record Low of 92.44 Amid Global Oil Spikes

The Indian rupee hit a fresh intra-day all-time low of 92.44 against the U.S. dollar on Friday, March 13, 2026, down 19 paise from its previous close. Rising global crude oil prices amid ongoing West Asia tensions, coupled with a stronger greenback, heavy foreign institutional investor (FII) outflows, and sustained selling in domestic equity markets, put pressure on the local currency, according to forex traders.

At the interbank foreign exchange, the rupee opened at 92.33 and weakened to the intra-day low of 92.44, eventually settling 24 paise lower at 92.25, marking its lowest-ever closing level. The dollar index, which tracks the greenback against a basket of six currencies, was up 0.04% at 99.77. Meanwhile, Brent crude futures rose 4.99% to $96.57 per barrel.

Equity Market Pressure

Domestic equities also felt the impact, with the Sensex falling 917.69 points (1.21%) to 75,116.73 and the Nifty dropping 308.40 points (1.30%) to 23,330.75. Foreign institutional investors sold equities worth a net ₹7,049.87 crore on Thursday, March 12.

Rising Inflation Adds to Concerns

Adding to market pressure, retail inflation in February rose to 3.21%, up from 2.74% in January, primarily due to higher food prices, according to government data released on Thursday.

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