The Indian rupee plunged 20 paise to open at a fresh record low of 96.17 against the US dollar on Monday, 18 May, as elevated crude oil prices amid the Iran conflict continued to pressure global markets and weaken risk sentiment.
The rupee has emerged as Asia’s worst-performing currency so far in 2026, declining around 5.5% since the Iran war began on 28 February. Monday also marked the fifth straight session in which the currency touched a new all-time low.
