MUSCAT : The Indian rupee (INR) dropped to a fresh all-time low against the Omani Rial on Friday, crossing the INR 232 per Omani Rial mark for the first time (INR 232.25 at the time of closing), reflecting sustained pressure on the currency amid deteriorating global and domestic conditions.
The slide comes as the rupee also weakened sharply against the U.S. dollar, touching ₹89.46/$ — its lowest level on record and the steepest single-day drop in more than three months.
Currency traders attributed the fall to a combination of factors, including weak global risk sentiment, uncertainty over U.S.–India trade negotiations, and large foreign investment outflows from Indian markets. Demand for dollars among importers has also increased, adding further strain on the currency.
Read More
- Sensex surges 736 points, Nifty nears 24,000 as Iran-US peace deal lifts market sentiment
- Oppenheimer issues bullish outlook on SpaceX with USD190 price target
- Meethaq Islamic Banking offers Sharia-compliant Home Financing under “Iskan” programme from Oman Housing Bank
- SpaceX IPO a ‘true test for capitalism’, says Uday Kotak as stock surges on debut
- Oman sets September deadline for replacement of expired banknotes
For all the latest news from Oman and GCC, follow us on Twitter, Instagram and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.
