Pakistan, May 13 -- The Indian rupee fell to a historic low against the US dollar on Tuesday as rising oil prices, foreign investor withdrawals and weak market sentiment intensified pressure on India's economy. The rupee opened at 95.50 per dollar before slipping further to 95.6250, surpassing the previous record low reached last week and extending losses since the Iran conflict began to more than five percent.

The sharp decline followed a massive 46 percent increase in Brent crude prices triggered by the ongoing Iran conflict, which heavily impacted currencies of oil-importing nations. Alongside the Indian rupee, the Philippine peso and Indonesian rupiah also faced severe pressure. Analysts said India's heavy dependence on imported oil ...