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Indian Rupee Plunges to 93.96 Against USD Amid US-Iran Tensions

Indian Rupee Plunges to 93.96 Against USD Amid US-Iran Tensions

Author:

Global Cryptocurrency

Published:

2026-03-23 17:53:01

15

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BTCCSquare news:

The Indian rupee has collapsed to a historic low of 93.96 against the US dollar, driven by escalating geopolitical tensions between the US and Iran. The closure of the Strait of Hormuz has sent shockwaves through Asian markets, with over $700 billion wiped out in a single trading session. Markets now brace for further volatility as retaliatory threats between Washington and Tehran intensify.

Trump's 48-hour ultimatum to Iran has amplified risk-off sentiment, funneling capital into the US dollar as a safe haven. Asian currencies bear the brunt of the selloff, with the rupee emerging as one of the hardest hit. Analysts warn of prolonged pressure on emerging market assets until the Hormuz blockade resolves.

By:

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