Rupee crashes to record low near 94 against the dollar

The Indian rupee fell to a record low of 93.96 against the US dollar on Monday, extending its slide as foreign fund outflows accelerated and crude oil prices stayed elevated. The currency has depreciated 3.6% against the dollar in 2026 so far, and 2.4% since the West Asia conflict began. The RBI's budgeted assumption of ₹88 per dollar is now deeply outdated.