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Rupee falls to record low of 95.3 against US dollars as oil prices surge

Scroll | April 30, 2026 8:41 PM CST

The rupee on Thursday fell to a record low of 95.3 against the US dollar on account of rising global oil prices and selling in the domestic equity markets, PTI reported.

The Indian currency opened at 95 against the dollar at the interbank foreign exchange market and lost 46 paise to touch a record intraday low of 95.3, the news agency reported. It had recovered to 94.2 against the dollar by the time the day’s trade session closed.

On Wednesday, the rupee depreciated by 20 paise to close at an all-time low of 94.8 against the US dollar.

Global oil prices rose more than 7% on Thursday to a four-year high following a report that United States President Donald Trump was planning for an extended US blockade of Iranian ports.

The benchmark Brent crude touched $126.4 per barrel before falling to $116 per barrel. The price of Brent was $78 per barrel on February 27, a day before the conflict started.

The Wall Street Journal had reported on Tuesday that Trump has instructed US officials to prepare for an extended blockade to put pressure on Iranian exports and force Tehran to reach a peace deal.

The uncertainty had led global oil prices to jump more than 3% to $114.8 per barrel on Wednesday.

In India, the stock market tumbled on Thursday, with the benchmark...