Rupee breaches 95 mark for first time, hits fresh record low
The Indian currency hit a record low of 95.14 to the US dollar on Monday.
- Mar 30, 2026,
- Updated Mar 30, 2026 4:16 PM IST
The Indian currency crossed the 95 mark to the dollar for the first time ever during Monday's trade amid a crash in equity market and sustained FII selling. The Indian currency hit a record low of 95.14 to the US dollar. Later, the currency closed on a flat note at 94.83 to the dollar.
The currency has become Asia’s worst-performing currency, falling 4.1% against the US dollar (USD) since January 1, 2026.
V K Vijayakumar, Chief Investment Strategist, Geojit Investments said, "Even though the RBI directive will curb excessive speculation in the futures market, this is not sufficient to prevent the weakness in the currency which stems from the rising trade and CAD triggered by the spike in crude and sustained FPI selling in the market."
Earlier, the rupee opened 130 paise higher to the dollar after the Reserve Bank of India moved to curb speculative activity, restricting onshore long positions on the dollar to stabilise the currency, which has hit successive lows in recent weeks.
In early trade, the local currency was trading at 93.59 to the dollar, rising 1.3 percent from the record low of 94.85 on March 27.
On the stock market front, Sensex crashed 1600 points to 71,985, while Nifty lost 478 points to 22,341. Foreign institutional investors sold equities worth Rs 4085 crore on a net basis on Friday, according to exchange data.
The Indian currency crossed the 95 mark to the dollar for the first time ever during Monday's trade amid a crash in equity market and sustained FII selling. The Indian currency hit a record low of 95.14 to the US dollar. Later, the currency closed on a flat note at 94.83 to the dollar.
The currency has become Asia’s worst-performing currency, falling 4.1% against the US dollar (USD) since January 1, 2026.
V K Vijayakumar, Chief Investment Strategist, Geojit Investments said, "Even though the RBI directive will curb excessive speculation in the futures market, this is not sufficient to prevent the weakness in the currency which stems from the rising trade and CAD triggered by the spike in crude and sustained FPI selling in the market."
Earlier, the rupee opened 130 paise higher to the dollar after the Reserve Bank of India moved to curb speculative activity, restricting onshore long positions on the dollar to stabilise the currency, which has hit successive lows in recent weeks.
In early trade, the local currency was trading at 93.59 to the dollar, rising 1.3 percent from the record low of 94.85 on March 27.
On the stock market front, Sensex crashed 1600 points to 71,985, while Nifty lost 478 points to 22,341. Foreign institutional investors sold equities worth Rs 4085 crore on a net basis on Friday, according to exchange data.