Last Updated on March 25, 2026 12:24 am by INDIAN AWAAZ
Staff Reporter / New Delhi March 24
The Indian rupee weakened by 22 paise to close at 93.75 against the US dollar (provisional) on Tuesday, pressured by a stronger greenback and rising global crude oil prices amid continuing tensions in West Asia.
At the interbank foreign exchange market, the local currency opened at 93.66 per dollar and witnessed volatility through the trading session before settling lower. Currency traders said the strengthening of the US dollar against major global currencies and persistent foreign fund outflows weighed on the rupee.
Market participants also remained cautious due to the prolonged geopolitical tensions in West Asia, which have raised concerns over global energy supplies and shipping routes. Higher crude oil prices — a key concern for oil-importing countries like India — added further pressure on the domestic currency. Analysts noted that uncertainties surrounding the crisis and potential disruptions to trade through key maritime routes have increased risk aversion among global investors.
Despite the weakness in the currency market, Indian equities staged a strong recovery after a sharp decline in the previous session. Benchmark indices rebounded as investors engaged in value buying and sentiment improved following signs of stability in global markets.
The BSE Sensex climbed sharply to close at 74,068.45, while the Nifty 50 ended the day at 22,912.40, both gaining nearly 2 per cent.
Market experts said the rebound was driven by buying in banking, IT and select blue-chip stocks after the recent sell-off. However, they cautioned that volatility may persist as investors continue to monitor developments in West Asia, global crude oil prices and foreign institutional investor flows.
Traders also said the rupee’s near-term trajectory will largely depend on movements in the dollar index, crude oil prices and global geopolitical developments.