The rupee slumped by 56 paise to settle at 93.39 (provisional) against the U.S. dollar on Monday (April 13, 2026) after a failed U.S.-Iran peace talk fuelled uncertainties in West Asia, leading to a surge in crude oil prices and a global chase for the greenback.

According to forex analysts, uncertainties over the opening of Strait of Hormuz following the U.S. announcement to blockade Iranian ports further intensified withdrawal for foreign capital from domestic equities, weakening the Indian currency.