Mumbai, May 19: The Indian rupee slipped to a fresh record intraday low of 96.47 against the US dollar on Tuesday, weighed down by rising crude oil prices, a stronger dollar, and ongoing global geopolitical uncertainties.
The currency has come under sustained pressure in recent weeks, with traders noting continued volatility in foreign exchange markets. So far in 2026, the rupee has emerged as one of Asia’s weakest-performing currencies.
According to market data, the rupee has declined around 1.5% this month and more than 7% over the year to date, reflecting persistent external headwinds.
Forex market participants said elevated oil prices and concerns over potential disruptions in key shipping routes, including the Strait of Hormuz, have further added to pressure on the domestic currency.
Analysts added that the rupee is likely to remain sensitive to global crude trends and dollar strength in the near term.