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Rupee hits record-low against dollar, crosses 96 for first time
15 May 2026

The Indian rupee has hit a record low against the US dollar, crossing the 96 mark for the first time.

The decline is mainly due to rising crude oil prices, a strong US dollar, and hawkish comments from US policymakers.

Persistent outflows of foreign capital and a widening trade deficit have also contributed to the currency's depreciation.

Global uncertainties and a lack of AI-led investment opportunities are affecting capital flows further.

Forex traders report immense pressure on the rupee
Market response

Forex traders have observed immense pressure on the USD/INR pair due to continuous foreign capital outflows and weak net Foreign Direct Investment (FDI) inflows. This has put a strain on the balance of payments.

The rupee opened at 95.86 but lost ground and fell to an all-time low of 96.14 during intraday trading, marking a decline of 50 paise from its previous close.

Global factors affecting currency values
External factors

The dollar index, which measures the strength of the US dollar against a basket of six currencies, was trading at 99.28, up by 0.47%.

Meanwhile, Brent crude oil (the global oil benchmark) was trading up by 3.20% at $109.20 per barrel in futures trade.

These external factors have also contributed to the rupee's decline against the dollar on Friday.

Sensex, Nifty trade in red
Market overview

On the domestic front, the Sensex was trading 130.74 points or 0.17% lower at 75,267.98, while the Nifty was down by 17.60 points or 0.07% at 23,672.00.

However, Foreign Institutional Investors (FIIs) turned net buyers on Thursday, purchasing equities worth ₹187.46 crore according to exchange data, despite these market fluctuations and rupee depreciation against the dollar on Friday.