1 hour ago
The Indian rupee showed further weakness in the NDF market on March 19, while domestic markets were closed for Gudi Padwa. The rupee may weaken past 93 per dollar when trading resumes on March 20.
By Anshul March 19, 2026, 9:09:13 AM IST (Published)
2 Min Read
The Indian rupee indicated further weakness in the non-deliverable forwards (NDF) market on Thursday (March 19), while domestic foreign exchange and debt markets remained closed for the Gudi Padwa holiday.
The 1-month dollar/rupee NDF was quoted at 93.46 per dollar, suggesting the rupee may weaken past the 93 level when onshore trading resumes on Friday (March 20). The offshore movement followed a rise in global crude oil prices amid escalating attacks on key energy infrastructure in the Gulf.
In the previous session on Wednesday (March 18), the rupee fell sharply by 49 paise to close at an all-time low of 92.89 against the US dollar, pressured by a stronger dollar and continued foreign institutional investor (FII) outflows.
At the interbank foreign exchange market, the local unit opened at 92.42 and moved in a range of 92.41 to 92.89 before settling at its weakest closing level on record. On Tuesday (March 17), the rupee had touched an intra-day low of 92.47 and ended at 92.40, which was then its lowest closing level.
Market participants attributed the pressure on the currency to elevated global crude oil prices linked to the ongoing tensions in West Asia, which weighed on sentiment.
The dollar index, which measures the US currency against a basket of six peers, was marginally higher at 99.62. Brent crude futures traded around $103.4 per barrel.
Foreign institutional investors remained net sellers in the equity market, offloading shares worth ₹2,714.35 crore, according to exchange data.
-With agencies inputs
