Rupee falls to record low of 96.90 against U.S. dollar in early trade
The Indian Rupee has fallen to a record low of 96.90 against the U.S. dollar, marking a significant depreciation. This decline is attributed to a strong dollar, high crude oil prices, and outflows from Foreign Institutional Investors. The Rupee has now slumped for eight consecutive sessions, reflecting broader pressures in the equity markets.
- ▪The Rupee depreciated 20 paise to an all-time low of 96.90 against the U.S. dollar.
- ▪The dollar index was trading at 99.262, indicating a strong dollar.
- ▪Foreign Institutional Investors turned net sellers, offloading equities worth ₹2,457.49 crore on Tuesday.
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The Rupee depreciated 20 paise to an all-time low of 96.90 against the U.S. dollar in early trade on Wednesday (May 20, 2026) weighed down by a strong dollar and elevated crude oil prices amid simmering Iran-U.S. tensions.Forex traders said the outflow by Foreign Institutional Investors (FIIs) and decline in equity benchmark indices also pressured the Rupee. Rupee depreciation and its impact on investmentsAt the interbank foreign exchange market, the Rupee opened at 96.89 against the U.S. dollar, then slipped further to 96.90, registering a fall of 20 paise from its previous close.On Tuesday (May 19, 2026), the Indian Rupee slumped for the eighth consecutive session and ended 50 paise down at its record low of 96.70 against the U.S. dollar.
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