Rupee hits record low of 95.55 as fraying US-Iran ceasefire keeps oil prices on the boil

May 12, 2026

The rupee has reached its lowest point ever against the US dollar. This decline is driven by investor concerns over escalating 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 worries.

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