MUSCAT : The Indian Rupee (INR) continues to weaken sharply against major global currencies, pushing the exchange rate closer to the 240 mark against the Omani Rial (OMR).

As of early Wednesday, January 21, the INR exchange rate stood at around 237.6 per OMR, according to live currency tracking platforms, reflecting a steady appreciation of the Rial against the Rupee over the past month. Exchange data charts show a clear upward trend from late December through January, highlighting sustained pressure on the Indian currency. Some exchange houses in Oman quoted slightly lower retail rates, with RO 1 trading near INR 237.1.

Market analysts link the Rial’s strength primarily to the Indian Rupee’s ongoing slide against the US dollar, where the domestic currency has fallen to fresh record lows. On Tuesday, the Rupee breached the psychologically significant 91-per-dollar level, extending a losing streak driven by persistent foreign capital outflows, global trade concerns, and heightened geopolitical uncertainty.

Indian financial media reports indicate that the Rupee opened weaker at around 90.93 per dollar before slipping further during the session to an intraday low of 91.01.

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.