{"id":1165,"date":"2026-05-14T13:50:12","date_gmt":"2026-05-14T13:50:12","guid":{"rendered":"https:\/\/dailypakistannews.com\/?p=1165"},"modified":"2026-05-14T13:50:12","modified_gmt":"2026-05-14T13:50:12","slug":"indian-rupee-slips-to-record-low-near-96-per-usd-as-energy-risks-deepen","status":"publish","type":"post","link":"https:\/\/dailypakistannews.com\/?p=1165","title":{"rendered":"Indian rupee slips to record low near 96 per USD as energy risks deepen"},"content":{"rendered":"<p><strong>MUMBAI: The Indian rupee fell to an all-time low on Thursday, pressured by stubbornly high oil prices and persistent portfolio outflows that have strained the current and capital balances of Asia\u2019s third-largest economy.<\/strong><\/p>\n<p>The rupee fell 0.2% to 95.9575 per U.S. dollar, eclipsing its previous record low of 95.7950 hit on Wednesday. It closed at 95.7625, down marginally from its previous close.<\/p>\n<p>The currency trimmed losses after <em>Bloomberg News<\/em> reported that India is considering a reduction in the taxes paid by foreign investors on the nation\u2019s bonds.<\/p>\n<p>Policymakers have been studying ways to mobilise dollar inflows to bolster foreign exchange buffers and cushion rising pressure on the rupee, <em>Reuters<\/em> reported last week.<\/p>\n<p>The months-long Iran war that has pushed up crude and gas prices sharply amid supply disruptions threatens to slow growth and lift inflation in India, which imports about 90% of its oil needs and about 50% of its gas requirements.<\/p>\n<p>The country is facing a third consecutive year of a balance of payments deficit, prompting economists and traders to bake in expectations of persistent rupee weakness even as central bank interventions curb excessive volatility.<\/p>\n<p>Analysts at Nomura expect policymakers to use regulatory measures to manage the deficit.<\/p>\n<p>The deficit reflects \u201ca more volatile global environment, but it requires a deeper rethink on how India should manage the external sector in the coming years,\u201d they said in a note.<\/p>\n<p>Prime Minister Narendra Modi earlier urged citizens to conserve foreign exchange reserves, while the federal government has hiked tariffs on precious metal imports.<\/p>\n<p>The central bank has sold down FX reserves to cushion the pressure and tapped rare regulatory measures to support the currency.<\/p>\n<p>Meanwhile, government data showed wholesale inflation quickened to a three-and-a-half-year high in April, one of the first clues of the impact the energy shock has had on India\u2019s economy.<\/p>\n<p>India is yet to raise retail fuel prices and analysts at Barclays reckon that a \u201cINR5\/litre hike for both petrol and diesel is imminent in May, as crude oil prices remain elevated.\u201d<\/p>\n<p>Brent crude oil futures were last at $105.95, up more than 45% from before the Iran war began.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: The Indian rupee fell to an all-time low on Thursday, pressured by stubbornly high oil prices and persistent portfolio outflows that have strained the current and capital balances of Asia\u2019s third-largest economy. The rupee fell 0.2% to 95.9575 per U.S. dollar, eclipsing its previous record low of 95.7950 hit on Wednesday. It closed at [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":1166,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan-news"],"_links":{"self":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/1165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1165"}],"version-history":[{"count":0,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/posts\/1165\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=\/wp\/v2\/media\/1166"}],"wp:attachment":[{"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailypakistannews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}