Rupee hits record low as fading hopes of U.S.-Iran peace spotlight economic risks

The rupee slid ​to a record low on ‌Tuesday (May 5, 2026) after U.S.-Iranian strikes ​in the Gulf rattled ⁠markets, dimming hopes for a resolution and deepening concerns over ‌risks confronting the oil-importing economy.

The currency ‌weakened to 95.39 ‌per ⁠dollar, down 0.3% on ⁠the day, eclipsing its previous all-time low of 95.33 hit on ​Thursday (April 30, 2026) last ‌week.