Rupee hits all-time low at 95.55 as fraying US-Iran ceasefire keeps oil prices hot
ReutersLast updated: May 12, 2026 at 09:38:00 IST
Synopsis
The rupee has hit its lowest level ever against the US dollar. This decline is due to investors’ concerns over the escalation of the conflict in the Middle East. The situation has led to a surge in oil prices. This development poses economic challenges for India, which imports most of its energy needs. The rupee’s new low reflects these growing concerns.
ETMarkets.comThe rupee opens at a record low of 95.50 against USD.
THE rupee fell to its lowest level on record Tuesday as investors fretted over a fraying ceasefire in the United States. Middle Eastwhich triggered a further increase in oil priceheightening concerns about the economic consequences for a net energy-importing economy.
The rupee fell to 95.55 per dollar, down 0.2% from its previous close and eclipsing its previous all-time low of 95.4325 hit last week.
The Nifty 50 fell 0.44% to 23,712.2 at 9:20 am IST, while the BSE Sensex lost 0.56% to 75,590.56.
Ten of the 16 major sectors posted losses. Broader small and mid caps fell 0.5% and 0.3%, respectively.
Other Asian markets fell 0.5% as oil prices rose to around $105 a barrel after US President Donald Trump’s comment that the ceasefire with Iran was “on life support” after calling Tehran’s response to a US peace proposal “stupid”.
Rising crude prices are detrimental to the world’s third-largest oil importer, as they exacerbate inflationary pressures and weigh on growth and corporate profits.
Investors were also awaiting India’s retail inflation data, due later in the day, which could provide clues about how the war in Iran has affected price pressures in the economy.
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