India, May 20 -- The rupee slipped to a record low of 96.60 against the US dollar before settling at 96.52 (provisional) on Tuesday, weighed down by soaring crude oil prices, persistent foreign capital outflows, and a resilient dollar buoyed by global risk-aversion.

The rupee is Asia's worst-performing currency in 2026, having tumbled to a historic intraday low of 96.60 against the US dollar. The currency has depreciated 1.5 per cent this month and more than 7 per cent this year.

Forex traders said the rupee remains vulnerable to rising crude oil prices and the closure of the Strait of Hormuz.

At the interbank foreign exchange market, the rupee opened at 96.38 against the US dollar, then lost further ground and touched a record low of ...