Rupee falls 20 paise to all-time low of 95.86 against US dollar

MUMBAI: (May 14) The rupee opened on a weak note and depreciated 20 paise to a record low of 95.86 against the US dollar in early trade on Thursday, weighed down by elevated crude prices and concerns over the West Asia crisis.

The rupee has now weakened by more than 6 per cent against the US dollar since the West Asia conflict began, making it Asia’s worst-performing currency so far in 2026.

In a major move aimed at protecting foreign exchange reserves, India raised import duties on gold and silver from 6 per cent to 15 per cent, but traders said the rupee’s path will be shaped less by gold and more by crude’s trajectory and the West Asia situation.