Last financial year also, the rupee was the worst Asian currency, losing nearly over 2.5% and the third worst in the world after the Turkish lira and the Argentinian peso, which both lost over 45% each. The currency lost as much as 9.55% in the year, which is the sharpest yearly plunge for it since FY11, driven by a confluence of global economic pressures and geopolitical events, prompting intervention from the Reserve Bank. Between May 26, 2014 and March 30, 2026, the rupee lost as much as 61.6% against the dollar. March alone saw the rupee losing 5.5% weighed down by the Iran war and the resultant spike in crude prices. This deep plunge comes despite the Reserve Bank of India intervening by selling $55.073 billion and introducing regulatory measures to curb speculation.

Source: Indian Express March 31, 2026 15:50 UTC