Indian rupee hits new low; offers above Rs246 vs Oman rial
Published: 05:04 AM,Apr 30,2026 | EDITED : 11:04 AM,Apr 30,2026
Muscat: The Indian rupee breached the Rs 95 per dollar-mark to hit a record-low on Thursday, April 30, 2026 as global crude oil prices rise amid the delay in the settlement of the US-Iran conflict and the closure of the Strait of Hormuz.
Rupee breached the low level of 95.30 against USD. The sharp fall is on account of the soaring energy prices, the supply chain disruptions due to the ongoing geopolitical tensions.
The money exchanges in the Sultanate of Oman are currently offering around Rs 246.35 per rial.
There is heavy demand for the US dollar. which added pressure on the Indian Rupee. The higher shipping costs and war premiums have added the Import bill of India, according to Advocate R. Madhusoodanan, a financial expert based in Oman.
The weak Industrial Production Data (IIP) released is a 5 month low for domestic reasons.
The Reserve Bank of India has a comfortable fore reserve of US dollar 703 billion, which gives comfort to RBI to intervene in the Forex market to contain the rupee volatility.
The Indian rupee appears weak and if the war continues, it may slip further.