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 economy.

As per a PTI report, in the interbank foreign exchange market, the rupee started at 95.57 against the US dollar 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 by 79 paise to end at its historical low of 95.28 against the US dollar.

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