Rupee sinks to record closing low of 94.85 as oil surges and outflows persist

Published on 29 April 2026

Oil pressures the currency while foreign selling stays

The Indian rupee closed at a record low of 94.85 per USD, as surging oil prices lifted import costs and stalled diplomatic efforts around the Iran conflict. At the same time, persistent foreign selling of Indian assets added fresh pressure, worsening sentiment and weakening demand for the rupee ahead of future FX moves.

Rupee closes at a record low of 94.85 per USD
Rising oil prices are a major driver of the decline
Stalled Iran conflict resolution is keeping risk premium elevated
Foreign selling of Indian assets is worsening currency pressure

#foreign outflows #rupee #fx market #oil prices #usd

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Rupee sinks to record closing low of 94.85 as oil surges and outflows persist

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