New Delhi, May 12 -- Rupee slipped 35 paise to hit a record low of 95.63 against the US dollar on Tuesday, 12 May, as concerns over a weakening ceasefire in the Middle East pushed oil prices higher, heightening worries for the import-dependent economies such as India.

As per a PTI report, in the interbank foreign exchange market, the rupee started at 95.57 against the greenback and subsequently dropped to an unprecedented low of 95.63, a decline of 35 paise from its previous closing value.

On Monday, the rupee plummeted 79 paise to end at a historical low of 95.28 against the US dollar.

The rupee has faced pressure since the outbreak of the Iran conflict in late February, which sent oil prices soaring. Any temporary recovery phases hav...