Rupee Hits Record Low Of 93.12 Against US Dollar On West Asia Tensions

The Indian rupee fell to a record low on Friday, slipping to 93.12 against the US dollar amid global supply chain disruptions linked to escalating tensions in West Asia.

The domestic currency declined 0.55 per cent, breaching its previous low of 92.63 recorded earlier this week.

The rupee has depreciated nearly 2 per cent since tensions in the region intensified, reflecting sustained pressure from elevated crude prices and global risk aversion.

Experts noted that the USD/INR pair continues to trade above the 92.8 level, signalling further weakness.

According to Ponmudi R, a sustained move above 93.00 could reinforce the upward trend, with resistance seen in the 93.20–93.40 range, while support lies near 92.70 and 92.50–92.40 levels.

Despite the currency weakness, domestic equity markets rebounded strongly. The BSE Sensex rose over 900 points, while the Nifty 50 gained around 300 points in early trade.

Foreign institutional investors (FIIs) remained net sellers, offloading equities worth over Rs 7,558 crore in the previous session, according to exchange data.

Global oil prices declined after the United States signalled a possible easing of sanctions on Iranian crude, as efforts intensified to secure shipping through the Strait of Hormuz.

Brent crude futures fell as much as 3.39 per cent to $104.96 per barrel, while US WTI crude traded 3.22 per cent lower at $92.47.

The decline followed comments by Scott Bessent, who indicated that Washington may consider easing restrictions on Iranian oil to stabilise global prices.

Despite the recent dip, crude prices remain elevated after surging nearly 40 per cent since early March, continuing to exert pressure on the rupee.

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