Crude Oil Price Impact

Rupee Plunges to Record Low of 95.40 Against US Dollar as Crude Oil Surge Intensifies Pressure

Rupee Plunges to Record Low of 95.40 Against US Dollar as Crude Oil Surge Intensifies Pressure

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May 5, 2026

Soaring global crude prices, persistent dollar demand from oil marketing firms, and fresh geopolitical tensions in the Strait of Hormuz push the Indian currency to an unprecedented trough.