Brief by Shorts91 Newsdesk / 04:40am on 20 May 2026,Wednesday India
The Indian rupee weakened by 33 paise on Wednesday to hit a record low of 96.89 against the US dollar, later slipping further to 96.92 during early trade. Analysts attributed the decline to elevated crude oil prices near $110 per barrel, pressure on India’s foreign exchange reserves, strong US dollar demand and continued foreign investor outflows. India, which imports nearly 90 per cent of its crude oil requirements, faces increased dollar outflow as global energy prices surge amid geopolitical tensions linked to the Iran-US conflict. Rising US Treasury yields and expectations of tighter Federal Reserve policy have further strengthened the dollar. The rupee has reportedly fallen more than 8 per cent against the dollar in 2026 alone. (PC: News18)
