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Rupee Plummets to Record Low 92.18 Against Dollar Amid West Asia Tensions
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News18
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05-03-2026, 14:05
Rupee Plummets to Record Low 92.18 Against Dollar Amid West Asia Tensions
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Indian Rupee plummeted by 69 paise to a record low of 92.18 against the US Dollar on Wednesday.
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Escalating geopolitical tensions in West Asia, including the Iran-Israel situation, and rising crude oil prices are key factors.
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Brent crude futures exceeded $82 per barrel due to the Iran crisis, significantly impacting investor sentiment.
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Foreign institutional investors (FIIs) sold shares worth 3,295.64 crore rupees, adding pressure on the rupee.
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Kotak Mahindra Bank warns of potential impacts on remittances, capital flows, inflation, and GDP if the West Asian crisis persists.
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