The rupee fell 3 paise to 92.43 against the U.S. dollar in early trade on Wednesday (March 18, 2026), weighed down by FII outflows and a stronger greenback amid the raging war in West Asia.

A fall in global crude oil prices and a positive opening at the domestic equity markets prevented a sharper decline in the local unit, according to forex traders.

At the interbank foreign exchange, the local unit opened at 92.42 against the greenback before slipping to 92.43, down 3 paise from its previous close.

The domestic unit on Tuesday (March 17, 2026) hit the lowest intra-day level of 92.47 against the dollar before settling at an all-time low of 92.40, down 12 paise from its previous close.

“The rupee has been in a range for the past few days with 92.50 getting protected by the Reserve Bank but FIIs and oil companies are buying dollars on a consistent basis,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

Foreign institutional investors sold equities worth ₹4,741.22 crore on a net basis on Tuesday (March 17, 2026), according to exchange data.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.03% higher at 99.60.

Brent crude, the global oil benchmark, was trading 1.32% lower at $102.0 per barrel in futures trade.

“The Middle East conflict has not changed for the better and has kept oil above $100 while dollar index is still well bid at 99.50 though unable to cross the 100.50-mark,” Mr. Bhansali said..

On the domestic equity market front, the Sensex was up 373.53 points, or 0.49%, to 76,444.37, while the Nifty rose 114.40 points, or 0.49%, to 23,695.55.