The rupee tumbled to a record low on Friday, breaching the 94-per-dollar mark, as escalating concerns over an energy shock triggered by West Asian conflict pushed the currency on track for its worst fiscal-year drop in more than a decade. The rupee weakened by around 0.9 per cent to close at 94.84 against the US dollar. ADVERTISEMENT“The rupee has slipped past 94 per dollar — marking its worst fiscal-year performance in over a decade — amid mounting fears of energy supply disruptions stemming from the West Asia crisis,” said Vinay Rajani, senior technical research analyst at HDFC Securities. The ongoing West Asia conflict — considered among the most severe disruptions to global energy supply in decades — has driven crude oil prices sharply higher and constrained key exports from the region. Market sentiment remained fragile despite US President Donald Trump extending a deadline for Iran to reopen the Strait of Hormuz, a critical conduit for global oil shipments.

Source: The Telegraph March 28, 2026 06:56 UTC