The Indian Rupee fell to a record low of 93.83 against the US Dollar on March 23, extending its recent decline after the steepest single-day drop in four years. The currency weakened amid sustained foreign investor outflows, with nearly $9 billion exiting Indian equities in 2026 so far. Elevated crude oil prices Brent above $110 per barrel have increased import pressures, further straining the rupee. Offshore markets indicate continued weakness, while the Reserve Bank of India’s short dollar position has neared $100 billion. Analysts warn that persistent global volatility and energy costs could keep the rupee under pressure in the near term. (PC: News18)

A civilian staffer at an Indian Air Force station in Dibrugarh has been arrested for allegedly spying for Pakistani intelligence handlers. The accused, Sumit Kumar, a multi-tasking staff member, was apprehended in a joint operation by Rajasthan Intelligence and Air Force Intelligence. Investigations revealed he had been in contact with operatives since 2023 and was allegedly sharing sensitive information, including details about fighter aircraft, missile systems, and personnel, via social media in exchange for money. The case, registered under the Official Secrets Act and Bharatiya Nyaya Sanhita, stems from an earlier arrest in Jaisalmer and may point to a wider espionage network under investigation. (PC: NDTV)

The Embassy of Iran in India expressed deep gratitude to Indians for donating money, gold, and jewellery to support Iran amid the ongoing crisis. Calling it an act of “kindness and humanity,” the embassy said such solidarity would never be forgotten. Contributions from Kashmir were highlighted, including a woman donating her late husband’s gold memento and children offering their piggy banks. Local initiatives, such as donation drives at religious sites, have mobilised communities to provide financial aid. The embassy emphasised that these gestures of compassion have brought emotional comfort to Iranians during a period of intense conflict and hardship. (PC: The Tribune)

An Indian national sustained minor injuries in Abu Dhabi after debris from an intercepted ballistic missile fell in the Al Shawamekh area. Authorities confirmed air defence systems successfully neutralised the threat. The incident comes amid escalating missile and drone attacks across Gulf nations as the conflict enters its fourth week. Dozens of Indians have been injured across the region, while six have died so far, including casualties in Saudi Arabia and Oman. The UAE has intercepted hundreds of aerial threats since the conflict began. With nearly 10 million Indians in West Asia, India and UAE officials have reiterated that expatriate safety remains a top priority. (PC: AFP)

Iranian Foreign Minister Abbas Araghchi declared that negotiations with the United States are “over forever,” calling recent developments a betrayal after assurances of no attack. He said trust has collapsed and diplomacy is no longer possible. As the war enters its fourth week, both sides have threatened to target critical infrastructure, with Iran warning it could completely close the Strait of Hormuz if attacked. The conflict has expanded regionally, with strikes across Israel, Lebanon and Gulf states. Over 2,000 people have been killed, including more than 1,500 in Iran. Continued missile exchanges and nuclear site tensions are raising fears of prolonged escalation and instability.

The head of the International Energy Agency, Fatih Birol warned that the world could face its worst energy crisis in decades due to the escalating West Asia war, calling the situation “very severe.” He said global supply losses have reached 11 million barrels per day exceeding the scale of two major historical oil shocks combined. The disruption reflects mounting pressure on energy markets as conflict impacts production and critical transit routes. The warning from the International Energy Agency highlights rising risks of prolonged supply shortages, surging prices, and widespread economic consequences as instability deepens across the region and threatens global fuel security. (PC: X)

Iran is reportedly charging up to $2 million from merchant vessels for passage through the Strait of Hormuz amid the ongoing war, according to lawmaker Alaeddin Boroujerdi. He described the move as an assertion of Iran’s authority. The strait, a vital route carrying nearly 20% of global oil and LNG, has been largely shut since early March, disrupting shipping and driving fuel prices higher. Iran appears to allow selective passage, including some Indian and Pakistani vessels. Tensions escalated after Donald Trump issued a 48-hour ultimatum to reopen the route, with Tehran warning of retaliation and a potential full closure if attacked. (PC: Reuters)

Narendra Modi held a key security meeting to review the impact of the Iran war on India. He said, “Citizens must be safeguarded from the impact of this conflict.” The government reviewed supplies of food, fuel and fertilisers. Officials said coal stocks are enough and there will be no power shortage. Plans were made to find new import sources for key sectors. The meeting also focused on export growth and supply chains. Senior ministers attended. The government will form teams to monitor the situation and prevent shortages and price rise.

Scott Bessent said the United States has enough funds to continue the Iran war. He said the government is seeking about $200 billion more from Congress for future needs. He added that the request is for preparedness, not due to any shortage. Donald Trump has not proposed any tax increase to fund the war. The plan has faced opposition from lawmakers. Early estimates show the conflict is costly, with over $11 billion spent in the first six days. The debate on funding is likely to grow as the war continues and expenses rise further.

Narendra Modi held a high-level meeting to review India’s fuel and food security. The meeting focused on the impact of the West Asia conflict. Ministers discussed steps to ensure steady supply of fuel, fertilisers and essential goods. The government said there is no shortage of coal or power. Plans were made to find new import sources and export markets. LPG supply has been increased, with priority for hospitals and schools. Officials said ports are working normally. Indian ships and sailors in the Gulf are safe. The government aims to control prices and prevent shortages in coming months.