Rupee breaches 91 mark again: Currency falls to 91.32 against US dollar amid Middle East tensions
Times of India
by TOI BUSINESS DESKMarch 2, 2026
AI-Generated Deep Dive Summary
The Indian Rupee dropped below the 91 mark against the US Dollar on Monday, reaching a low of 91.32 amid heightened tensions in the Middle East and global market volatility. Forex traders highlighted negative equity market sentiment and significant foreign fund outflows as key factors contributing to the currency's decline. The Rupee opened at 91.23 and fell further to 91.29 in early interbank trade, marking a drop of 21 paise from Friday’s close of 91.08. This depreciation occurred alongside a rise in the dollar index, which climbed 0.22% to 97.78, reflecting stronger demand for the US currency globally.
The surge in oil prices also added to investor concerns, with Brent crude futures climbing 3.91% to $76.78 per barrel. This increase in energy costs is particularly worrying for India, as it imports approximately 85% of its fuel requirements.Analysts linked the Rupee's decline to recent US and Israeli military actions in Iran, including attacks on ballistic missile sites and warships following the killing of Iran’s Supreme Leader, Ayatollah
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Originally published on Times of India on 3/2/2026