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The Daily Verified Briefing

Rupee hits record low as oil prices and dollar strength drive dollar demand

Published 18 May 2026

The Indian rupee fell to a fresh record low against the U.S. dollar on Tuesday, extending a multi-session decline driven by elevated global oil prices, a strong dollar, and persistent foreign capital outflows. The currency touched an intraday low of 96.60 before settling at a provisional rate of 96.

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