Mumbai, May 15 -- The Indian rupee's slide to fresh record lows amid the ongoing West Asia war is prompting calls for deeper structural reforms instead of short-term liquidity measures to stabilize the currency, five market participants told Mint.

While the US-Iran conflict has intensified pressure on the rupee, experts said the currency's weakness predates the war and reflects broader concerns over slowing capital inflows at a time when India's current account deficit is expected to widen.

Since the war began on 28 February, the rupee has declined by 4.6%, according to Bloomberg data. After clocking fresh lows for three consecutive trading sessions, the currency hit a fresh record low of 95.96 per US dollar on Thursday, before trimming...