Rupee rebounds 151 paise from record low, Sensex crashes over 1,400 points amid market volatility
The Indian rupee recovered 151 paise from its record low after RBI intervention, while the Sensex fell over 1,400 points. Rising crude oil prices and foreign outflows continue to pressure markets
PTC Web Desk: The Indian rupee staged a strong recovery on Thursday, rising by 151 paise from its record low. The currency strengthened to 93.19 against the US dollar after the Reserve Bank of India (RBI) imposed a cap of $100 million on banks’ net open positions.
Last Friday, the rupee had closed at an all-time low of 94.84, prompting intervention by the central bank. Despite the rebound, pressure on the currency continues due to sustained outflows by foreign investors and rising crude oil prices, which are currently around $106.06 per barrel.
Meanwhile, domestic equity markets witnessed a sharp decline at the opening session. The BSE Sensex fell by nearly 1,414 points to 71,719, while the NSE Nifty dropped 440 points to 22,238.
Experts say the rupee has weakened by more than 4% since February 28, following the outbreak of conflict in West Asia. However, there was some relief on the economic front as Goods and Services Tax (GST) collections in March rose by 9%, crossing Rs 2 lakh crore. This marks the third-highest monthly collection in the financial year 2025–26.