Elevated global crude oil prices put further pressure on the local unit, forex traders said, adding that even positive sentiments at the domestic equity markets could not prevent the crash. Suggestions that global crude oil prices may hit $180/barrel also weighed on sentiments. At the interbank foreign exchange, the local unit opened at 92.92 against the greenback and soon breached the 93-mark for the first time. The local unit kept losing ground and was trading at 93.49, down 60 paise from its previous close. The rupee slumped 49 paise to close at its previous record low of 92.89 against the US dollar on Wednesday (March 18, 2026).

Source: The Hindu March 20, 2026 18:21 UTC