The Indian rupee fell to a fresh record low on Wednesday, 13 May, extending its decline as overseas debt repayments and importer hedging demand outweighed the limited support from higher duties on precious metal imports.
The currency touched an all-time low of 95.80 against the US dollar, weakening by nearly 30 paise from the day’s high.
Persistent pressure from rising energy prices amid the US–Iran conflict has further strained India’s macroeconomic outlook. Economists have responded by trimming growth forecasts, raising inflation projections, and cautioning that the rupee could remain under sustained pressure in the near term.
