Rupee hits record low as US-Iran conflict escalates again
Arshiya Chopra, Published on May 5th, 2026

Indian rupee slid to a record low of 95.40 per dollar on Tuesday after fresh US and Iranian strikes in the Gulf rattled markets. Brent oil price is hovering near $113 per barrel, maintaining pressure on oil-importing economies like India. UBS has revised its year-end forecast for the rupee to 96 per dollar, weaker than its earlier forecast of 94.
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