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The rupee hit an intraday low of 95.80 towards the US greenback for the fourth consecutive day on Wednesday (Could 13, 2026) as a consequence of hovering oil costs and considerations about extended world commerce disruption amid the West Asian disaster.
The federal government’s transfer to boost import duties on gold and silver on the again of hovering oil costs will not be sufficient to ease total demand for the safe-haven greenback, overseas change analysts mentioned.
From Could 13, the federal government raised import duties on gold and silver from 6% to fifteen% in a bid to curb abroad steel purchases and ease stress on overseas change reserves.
Within the interbank overseas change market, the rupee depreciated by 21 paise throughout commerce to hit the day’s excessive of 95.51 towards the greenback, regardless of opening at 95.52 paise, 16 paise larger than yesterday’s shut.
Within the final three classes, the Indian forex has depreciated by 96 paise towards the US greenback since Could 7, when it closed at 94.22 paise.
Anuj Chaudhary, analysis analyst at Mirai Asset Sharekhan, mentioned the rupee has hit a brand new all-time low as a consequence of rising oil costs and rising inflation.
“The deadlock between the US and Iran over peace talks has led to threat aversion in world markets. The robust greenback and FII outflows have put an excessive amount of stress on the rupee,” he mentioned, predicting the spot worth of the US greenback and Indian rupee to commerce within the “vary of 95.45 kilos to 96.15 kilos.”
In the meantime, the greenback index, which measures the greenback’s power towards a basket of six currencies, rose 0.29% to commerce at 98.46.
Brent crude, the worldwide oil benchmark, was buying and selling 0.22% decrease at $107.73 per barrel in futures buying and selling.
Within the home inventory market, the 30-share Sensex was buying and selling 79.50 factors larger at 74,638.74 and the Nifty was 39.50 factors larger at 23,419.05.
In line with change knowledge, overseas institutional traders bought shares value Rs 1,959.39 crore on Tuesday (Could 12, 2026).
On the home macroeconomic entrance, retail inflation rose to three.48% in April, primarily as a consequence of worth will increase in gold and silver jewellery and a few kitchenware, in accordance with authorities knowledge launched on Tuesday (Could 12, 2026).
The patron worth index (CPI)-based inflation fee with 2024 as the bottom yr was 3.40% in March, 3.21% in February, and a couple of.74% in January.
