Mumbai/IBNS, May 20 -- Rupee on Wednesday hit a fresh low as the global tension over the West Asia crisis persisted, media reports said.

Rupee touched 96 per US dollar last Friday.

The Indian rupee has come under intense pressure amid the escalating West Asia conflict, with the currency falling to record lows against the US dollar in recent sessions.

Analysts say rising crude oil prices, foreign investor outflows and global uncertainty are the key reasons behind the sharp weakening.

Why is the rupee weakening?

India imports a major portion of its crude oil from West Asia. As tensions in the region intensified, global oil prices surged sharply, increasing India's import bill and demand for dollars.

Higher oil prices generally weaken ...