Rupee Drops 30 Paise to 92.34 Against Dollar as Oil Hits $100 After Iran Tanker Attacks

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Rupee Plunges 30 Paise to 92.34 as Oil Hits $100 After Iran Tanker Attacks

Indian Rupee

M

Moneycontrol•12-03-2026, 09:26

Rupee Plunges 30 Paise to 92.34 as Oil Hits $100 After Iran Tanker Attacks

•Rupee opens 30 paise lower at 92.34 against dollar, hovering near its record low.
•Crude oil surges to $100 a barrel after Iran attacked tankers near the Strait of Hormuz.
•High oil prices are detrimental to the rupee, increasing India's import bill and widening the current account deficit.
•RBI aggressively defended the Rs 92/dollar mark; now aims to prevent further falls to new record lows.
•Experts predict the USD/INR pair will gradually move towards the Rs 92.50-92.80 region.

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