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The rupee fell to an all-time low of $96.47 towards the US greenback in intraday buying and selling on Tuesday (Could 19, 2026), weighed down by rising oil costs, a powerful greenback, and geopolitical uncertainty.
The rupee fell to a historic intraday low of 96.47 towards the US greenback, turning into Asia’s worst-performing foreign money in 2026. The foreign money has fallen 1.5% this month and greater than 7% this 12 months.
Foreign exchange merchants stated the rupee remained weak to rising oil costs and the closure of the Strait of Hormuz.
Within the interbank international trade market, the rupee opened at 96.38 rupees towards the US greenback, however subsequently depreciated additional to hit a document low of 96.47 rupees, marking a decline of 27 paise from the earlier shut.
On Monday (Could 18, 2026), the Indian rupee settled at a document low of $96.20 towards the US greenback.
“Overseas traders have withdrawn almost $2.6 billion from Indian equities, including to the foreign money’s depreciation. The truth is, the image is much more dire. Web fairness outflows in 2026 have already reached $23.2 billion, exceeding final 12 months’s complete of $18.9 billion. Currencies are hardly ever static as capital outflows trip out, with the rupee carrying the heaviest weight,” stated Amit Pavali, MD, CR Foreign exchange Advisors.
Economists at HSBC predict that India might face a steadiness of funds (BoP) deficit of round $65 billion in FY27, the third consecutive 12 months of exterior imbalance strain.
“This isn’t only a cycle, it is turning into a sample that the market is pricing in now,” Pavali stated.
In the meantime, US President Donald Trump stated he had quickly postponed a deliberate assault on Iran following requests from Saudi Arabia, Qatar, the UAE and different Gulf allies.
The suspension introduced momentary reduction to world markets and oil costs, however markets stay cautious because the US and Iranian governments proceed to reject key components of one another’s proposals.
“Nonetheless, the rupee might proceed to commerce with a nervous beat till diplomacy materializes and the headlines cease altering each few hours,” Pavali stated.
In the meantime, the greenback index, which measures the greenback’s energy towards a basket of six currencies, was buying and selling 0.03% decrease at 99.16 on account of escalating tensions in Iran.
Brent crude, the worldwide oil benchmark, fell 1.43% in futures buying and selling to commerce at $110.50 per barrel.
Within the home inventory market, the Sensex was buying and selling 266.84 factors larger at 75,581.88 and the Nifty was up 78.45 factors at 23,728.40.
In response to trade knowledge, international institutional traders remained web patrons for 3 consecutive classes, shopping for shares price Rs 2,813.69 crore on Monday.
