New Delhi, May 18 -- The Indian rupee plunged to a fresh record low against the US dollar on Monday, 18 May, as elevated crude oil prices amid the Iran conflict continued to pressure global markets and weaken risk sentiment.

The domestic currency opened 20 paise lower at 96.17 and soon extended its decline, down almost 31 paise, to reach a new record low of 96.27 against the greenback.

The rupee has emerged as Asia's worst-performing currency so far in 2026, declining by around 5.5% since the war in Iran began on 28 February. Monday also marked the fifth straight session in which the currency touched a new all-time low.

The Reserve Bank of India (RBI) is believed to have intervened on Friday, helping the rupee bounce back above 96, Reu...