INR Market Update
21 Mar 2026 • 01:06 GMT
The Indian Rupee (INR) has been under pressure recently, hitting its 90-day lows against the US dollar near 0.010633. This is about 3.2% below its three-month average of 0.010987, reflecting increased market concern. The rupee's decline has largely been driven by rising oil prices due to escalating tensions in West Asia, which have sharply increased India's import costs and widened its trade deficit. Additionally, continued foreign portfolio outflows—over ₹29,300 crore withdrawn from equities in January—have added to the pressure. The Reserve Bank of India has been actively intervening to stabilize the currency amid these volatile conditions. Meanwhile, the US dollar has seen a mixed trajectory this week, initially strengthening on geopolitical fears but now showing signs of some softening. Overall, these factors contribute to the ongoing downward trend of the INR against major currencies. While the rupee remains within a relatively narrow trading range, ongoing geopolitical developments and economic pressures are likely to keep the currency sensitive in the near term.
📊 Quick forecast view
Near-term bias: 🔴 Mild downside
Expected range: 0.0100 – 0.0110
Dominant driver: 🌍 Global risk sentiment
3-month trend: 🔴 Downtrend
