Indian Rupee Steadies Near Record Low

2026-03-25 05:59 By Erika Ordonez 1 min. read

The Indian rupee hovered just below 94 per dollar, steadying near record low levels, as oil prices pulled back on reports of a US ceasefire proposal to Iran.

The move lifted risk sentiment around the Middle East conflict and tempered safe-haven demand for the dollar.

However, gains remained limited as persistent foreign portfolio outflows and upcoming non-deliverable forward (NDF) and fiscal-year-end maturities continued to generate strong dollar demand.

India’s reliance on oil imports, along with lingering concerns over damaged Gulf energy infrastructure, kept underlying pressures elevated, while Reserve Bank of India intervention after earlier support of $16–18 billion left the rupee more exposed to external shocks.

Investors continue to watch crude price swings, foreign flows, and geopolitical developments.

The market is closed today for Ram Navami and is set to reopen tomorrow, Friday.



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