Rupee Hits Historic Low Against Dollar At 93 Amid Energy Crisis; Internet Reacts With Hilarious Dhurandhar Memes

Rupee has been in a freefall for about a decade now and every time it’s a historic new low, including today on March 20, as INR breached the 93 per US Dollar mark. Probably a vernal equinox gift for the ones celebrating the heralding of spring. No spring for the Indian economy, though. It’s still the free-fall season.

Since the US and Israel carried out attacks against the Iranian regime, the Indian currency has tanked more than 2%. INR’s previous all-time low was 92.63 against the USD on March 18. Today as the market bells tolled open, one US Dollar equalled INR 93.275 !

The country is currently under crisis with a surge in fuel prices post-war. Whilst the US government has temporarily waived sanctions on Russian oil, Putin has made no discount for India.

Meanwhile, the LPG shortage due to the energy crisis owing to the Iran war has adversely affected several Indian eateries, as the government rations cylinders for domestic and commercial users.

Amid the crisis, Foreign institutional investors (FIIs) have ramped up selling Indian equities. Are we headed for more inflation and a possible recession? Hopefully Dhurandhar 3 will throw some positive light into the current fiasco.

https://x.com/ndtv/status/2034854573731684682

https://x.com/CNBCTV18Live/status/2034847720268341259

Here are the memes as promised and some comments: One user took a jibe, “Shhh, Dhurandhaar, 3 me thik kar denge.” Another remarked, “Dhar should include in part 3 how the falling rupee helped in beating some Pakistani agenda.” A third user commented, “Dhurandhar ki international collection badhane ke liye aisa kar rahe hai modi ji.”

Yet another user wrote, “So what? Everyone’s using UPI at least.” A fifth asked,