Indian rupee hits record low as Mideast war rattles markets, stokes economic risks
Published on March 4, 2026.
The Indian rupee has fallen to a record low against the dollar, driven by a rise in oil prices and a rush out of risk assets. The rupee fell to 92.0550, surpassing its previous record low of 91.9875 per dollar. The conflict in the Middle East has caused global stock markets to plummet and has raised concerns about inflation and economic risks. The U.S. and India have recently announced a trade deal, but this has not been sustained.
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