India, May 14 -- The Indian rupee weakened by 20 paise to hit an all-time low of 95.86 against the US dollar in early trade on Thursday, pressured by rising crude oil prices and escalating concerns surrounding the West Asia crisis.
The domestic currency has now declined more than 6 per cent against the US dollar since the beginning of the West Asia conflict, making it the worst-performing currency in Asia so far in 2026.
In an effort to safeguard foreign exchange reserves, the government increased import duties on gold and silver from 6 per cent to 15 per cent. However, traders believe the rupee's near-term movement will continue to depend largely on crude oil prices and developments in West Asia.
Published by HT Digital Content Services...