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Story summary
- The Indian rupee fell past 93 per dollar on March 20, 2026, amid concerns about Iran war's energy impact.
- The drop has exceeded 2% since the conflict began and spurred more than $8 billion in foreign stock withdrawals.
- The Reserve Bank of India (RBI) has intervened by selling over $50 billion in U.S. dollars to stabilize the currency.
- Oil shock has weakened Indian shares and raised concerns about fiscal deficits.
