Business Desk- Indian Vs Rupee Details: Rupee touched a new record low today (Thursday, May 14). Amid continued external pressures, the figure of 95.85 was crossed against the US dollar. On Thursday, May 14, the rupee opened 2 paise lower at 95.73 against the US dollar, which weakened due to persistent oil- pressures in recent weeks. In the previous session, after touching a low of 95.7950, it closed at 95.7050.
The rupee fell 0.1% to 95.8525 against the US dollar, surpassing its all-time low of 95.7950 recorded in the previous trading session. This week, the rupee has fallen 1.4%.
Every trading day from Tuesday to Thursday is touching a new all-time low. The rupee has fallen more than 6% against the US dollar since the conflict began in West Asia, making it the worst-performing currency in Asia so far in 2026.
Pressure has started increasing on the external front. In FY26, the country’s goods trade deficit widened to more than $330 billion—a significant increase over the previous year.
Analysts also note that India’s foreign exchange reserves have declined by about $38 billion since the start of the Iran conflict, one of the sharpest declines among regional economies.
Additionally, analysts note that the RBI’s forward book reflects growing pressure, with the central bank’s net short forward position rising to nearly $103 billion as of the end of March.
This indicates a continued need for intervention to prevent volatility, a factor that could potentially impact the RBI’s future ability to manage currency- pressures.
According to experts, rising import costs are beginning to weigh heavily on the rupee, causing prices of everything from jewelery to fuel to rise. He said that India’s decision to increase the import duty on gold and silver from 6% to 15% has come amid increasing external pressures.
In FY26, India’s precious metals imports surged to $84 billion, up from $35.5 billion a decade ago, while higher crude oil prices have put further pressure on the balance of payments, adding to the stress on the currency.
According to Amit Pabari, MD, Research Team, CR Forex Advisors, technically, the zone of 94.50-94.80 will act as a strong support area for the USDINR pair, while 95.80-96.00 remains a key resistance area.
Pabari said, the level of 96 also acts as a psychological level for the market, hence the pair may face strong resistance around these levels. Unless it gets support from new global triggers or panic-driven dollar demand, it is unlikely to break this level immediately.
Harshal Dassani, Business Head, INVAsset PMS, believes that the rupee’s fall to a record low of 95.83 against the dollar is not just a one-day jitter but reflects a challenging external environment.
