The Indian rupee slid to a record low of 95.33 per US dollar as surging crude oil prices and escalating foreign outflows intensified economic stress. Inflation concerns, widening deficits, and weak capital flows continued to weigh on the currency, while central bank interventions struggled to counter depreciation driven by energy disruptions.
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.
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Foreign investors have withdrawn more than $20 billion from Indian equities in just the first four months of 2026, already surpassing the total record exit seen last year. The pullback is linked to worsening sentiment after Iran war-related disruptions pushed oil prices higher, adding pressure to India, a major crude importer, and dimming investor appetite for Asian risk.
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