The rupee extended its losing streak on Friday, plunging 82 paise to close at an all-time low of 93.71 against the US dollar, marking a weekly decline of about 1.3 per cent — its sharpest since late 2022. The currency remained under pressure amid sustained foreign fund outflows and a surge in crude oil prices triggered by escalating geopolitical tensions in West Asia. The oil shock has accelerated capital outflows, with foreign investors pulling out over $8 billion from Indian equities so far this month — the highest since January 2025. Market participants expect the rupee to weaken further towards the 95 mark, raising concerns over a widening trade deficit, elevated inflation and potential growth slowdown. “The rupee resumed its downward spiral to fresh record lows following Thursday’s holiday, battered by persistent foreign fund outflows and surging crude oil prices,” said Dilip Parmer, senior research analyst at HDFC Securities.

Source: The Telegraph March 21, 2026 05:19 UTC