The currency fell to 92.41 per dollar, breaching its all-time low of 92.35 touched in the previous session.
The rupee had opened weaker earlier in the day around 92.33 per dollar and extended losses in early trade as global oil prices remained elevated, forex traders said.
Crude oil has emerged as the primary driver for currency markets, with prices hovering close to the $100-per-barrel mark, significantly higher than levels near $70 before the Middle East tensions escalated.
Sustained strength in oil prices could raise risks for India’s economy by increasing the import bill and widening the current account deficit, factors that typically weigh on the domestic currency.
Apart from oil, traders also pointed to a stronger US dollar, heavy foreign institutional investor (FII) outflows and weakness in domestic equities as additional pressures on the rupee.
On the equity front, benchmark indices were trading lower in early deals, reflecting broader risk-off sentiment in financial markets.
Despite the recent slide, the rupee’s losses have been relatively contained compared with some emerging market peers, with traders attributing this partly to intervention by the Reserve Bank of India (RBI) aimed at curbing excessive volatility in the currency market.
Analysts say the rupee may remain vulnerable in the near term if crude prices stay elevated and geopolitical tensions persist.
–With agencies inputs
First Published:Â Mar 13, 2026 9:08 AM IST
