The Indian rupee weakened to a historic low of 87.35 against the U.S. dollar, influenced by expectations of an impending rate cut by the Reserve Bank of India and strong dollar demand from importers. Despite a softer dollar aiding other Asian currencies, India’s persistent foreign portfolio outflows added further pressure, resulting in nearly 0.3% depreciation on the day.
Ahead of Market: 10 things that will decide stock market action on Monday
Indian equities extended losses as escalating US-Iran tensions pushed crude prices higher, dampening investor sentiment. Rising US bond yields and a stronger dollar have triggered
March 8, 2026