Mumbai:- The rupee on Tuesday fell to a record low of 96.60 against the US dollar, under pressure from a stronger dollar due to rising crude oil prices, continued foreign capital outflows and global risk aversion.
The rupee is Asia's worst-performing currency in 2026, having fallen to a historic low of 96.60 against the US dollar. The currency has fallen 1.5 percent this month and more than 7 percent so far this year.
Forex traders said the rupee remained weak due to rising crude oil prices and the closure of the Strait of Hormuz.
The rupee opened at 96.38 against the US dollar at the interbank foreign exchange market, then weakened further to touch a record low of 96.60, and later closed at 96.52 (provisional), down 32 paise from the previous close.
On Monday, the Indian rupee had closed at a record low of 96.20 against the US dollar. On the other hand, selling in heavyweights like HDFC Bank and Reliance Industries in the last hours of stock market trading put pressure on the market. The 30-share BSE index Sensex closed 114.19 points (0.15%) lower at 75,200.85, after surging 431 points during the day after US President Donald Trump's statement on halting attacks on Iran.
Similarly, the NSE Nifty also fell 31.95 points (0.14%) to 23,618. The market witnessed a rally in IT sector stocks such as Infosys and TCS, which are expected to benefit from the rupee's decline. On the other hand, most shares of the Adani Group closed higher after the US Department of Justice completely dropped all criminal charges against Gautam Adani and his nephew.