New Delhi, May 14 -- The Indian rupee slipped to a fresh record low on Thursday, weighed down by elevated crude oil prices and continued foreign portfolio outflows amid growing concerns over India's external balances as the West Asia conflict continues.

The rupee weakened 0.1 percent to 95.8525 against the US dollar, breaching its previous all-time low of 95.7950 recorded on Wednesday. The domestic currency has now declined 1.4 percent this week, hitting record lows in each trading session from Tuesday to Thursday.

Rising Oil Prices Add Pressure On External Balances

India's heavy dependence on imported energy has made the rupee particularly vulnerable to the ongoing geopolitical crisis, reported Reuters.

India imports nearly 90 percen...