New Delhi, May 15 -- The Indian rupee has been under strong pressure this year due to a sharp jump in crude oil prices, driven by the Middle East conflict, heavy foreign capital outflow, and increased safe-haven demand amid geopolitical uncertainties.

The domestic currency has declined nearly 7% against the US dollar so far this year, as per investing.com. On 14 May, it touched a record low of 95.96 per dollar.

The rupee's weakness is likely to continue- some experts believe the domestic unit may touch the 100 mark if oil prices continue rising.

"If crude oil prices remain elevated for an extended period, the rupee will move to 100. The other major drag on the rupee is the sustained selling by FPIs in the Indian market," said VK Vijaya...