Rupee slumps to all-time low of 96.9 against US dollar

The Indian rupee slumped to a record low of 96.9 against the United States dollar on Wednesday. The currency had opened at 96.8.

The Indian currency had closed at an all-time low of 96.5 against the US dollar on Tuesday. The slump has come amid elevated global oil prices and economic headwinds caused by the conflict in West Asia.

Wednesday marks the eighth consecutive trade session in ⁠which the rupee has lost its value. The Indian rupee has been the worst-performing Asian currency in 2026, with a 6% loss in its value ⁠since the conflict began on February ​28.