BackECONOMY
Rupee hits record low as fading hopes of U.S.-Iran peace spotlight economic risks
On May 5, 2026, the rupee slid to a record low of 95.39 per dollar, down 0.3% for the day, after U.S.-Iranian strikes rattled markets. The currency had previously touched 95.33 on April 30, 2026, marking a new all-time low amid concerns for an oil-importing economy.
Why It Matters
The rupee’s slide highlights risks facing oil-importing economies in a tense geopolitical environment with potential implications for inflation and energy costs.
Timeline
2 Events
Rupee slides to new record low as market jitters rise
May 5, 2026
The rupee weakened to 95.39 per dollar, down 0.3% on the day, its fresh record low, after U.S.-Iranian strikes in the Gulf rattled markets and dimmed hopes for a resolution.
Rupee hits prior all-time low of 95.33 per dollar
April 30, 2026
The rupee reached 95.33 per dollar, its previous all-time low, on Thursday, April 30, 2026.