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Rupee Hits Record Low at 96.05 as Oil and a Strong Dollar Combine to Pressure INR Further
Economy
Published on 15 May 2026
Oil at $110 is only half the story
The Indian rupee slid to a lifetime low of 96.05 per US dollar on Friday, driven by crude prices hovering near $110 a barrel. Union Bank of India links the fall to a mix of elevated energy costs, aggressive capital outflows and a resurgent dollar. Stronger-than-expected US Non-Farm Payrolls lifted Treasury yields and the DXY, weakening emerging market currencies. Meanwhile, India’s trade deficit remains wide, with foreign exchange reserves lower than February levels.
- Rupee falls 0.3% to 96.05 per US dollar
- Life-time low beats prior record 95.9575 on the previous session
- Crude prices near $110 a barrel amplify oil-linked pressure
- Stronger US NFP lifted DXY and US Treasury yields
- FX reserves slipped from $728.49B (Feb 27) to $690.69B (May 1)
- Outlook remains defensive unless oil drops and FII inflows improve
Read the full story at Republic
This summarization was done by Beige for a story published on 
Republic