TMC's Kakoli Dastidar alleges ‘verbal abuse, misogyny’ by Kalyan Banerjee in letter to Lok Sabha SpeakerThe letter comes a day after Kakoli Ghosh Dastidar resigned from all organisational posts in the Trinamool Congress. Updated on: May 28, 2026 12:10 PM IST By HT News Desk Share via Copy link
Rakhi Sawant defends Ranveer Singh amid FWICE row over Don 3 dispute: ‘Salman Khan ko ban karke dikhaye’During her recent outing in Mumbai, Rakhi Sawant was seen sharing her thoughts about Ranveer Singh and Don 3 dispute while interacting with the paparazzi. May 28, 2026
Man who spent 2 decades in Saudi jail, faced death sentence returns to KeralaMan who spent 2 decades in Saudi jail, faced death sentence returns to Kerala Published on: May 28, 2026 12:02 PM IST PTI Share via Copy link Kozhikode, Abdul Rahim
India U-18 hockey teams eye positive start in Asia CupIndia U-18 hockey teams eye positive start in Asia Cup Published on: May 28, 2026 12:06 PM IST PTI Share via Copy link Kakamigahara , Guided by senior stalwarts like Sardar Singh and Rani Rampal
Former cricketer Aakash Chopra lauded 15-year-old Vaibhav Suryavanshi's powerful IPL innings. He called Suryavanshi a special player but cautioned against fast-tracking him to the Indian team. Chopra believes there is ample time for the young talent's national debut
The Israeli military has issued evacuation orders for large parts of southern Lebanon, declaring the areas "combat zones" ahead of fresh strikes against Hezbollah. The Israel Defense Forces (IDF) urged residents to move north of the Zahrani River, about 40km (25 miles) from the border
How an Indian man earned ₹1,200 in 10 minutes in London before getting caughtA 25-year-old Indian man has revealed how he managed to earn 10 pounds in London in just 10 minutes Published on: May 28, 2026 11:39 AM IST By Sanya Jain Share via Copy link A 25-year-old Indian man has revealed how he
Want to live longer? Neurologist explains the ‘9-year longevity equation’ for healthy ageingCan three simple daily habits help you live longer? A neurologist shares the 9-year longevity equation focused on sleep, movement and balanced eating. Published on: May 28
Why is the Indian rupee at record low today, and what's next amid Iran-US war
Why is the Indian rupee at record low today, and what's next amid Iran-US war
Why is the Indian rupee at record low today, and what's next amid Iran-US war
The biggest trigger for the rupee’s fall has been the surge in crude oil prices. Brent crude climbed above $82 per barrel after jumping 12% in just two days.
Updated on: Mar 04, 2026 1:45 PM IST By Abhimanyu Kulkarni Share via Copy link The Indian rupee plunged to an all-time low on Wednesday as escalating tensions in the Middle East sent crude oil prices soaring, sparking fears of higher inflation, a widening trade deficit and capital outflows from emerging markets. Rupee fell as much as 0.9% on Wednesday, the most in 10 months, to 92.3050 per dollar. The currency weakened past the psychologically important 92-per-dollar mark for the first time, falling as much as 0.8% to 92.30 against the US dollar. The drop eclipsed its previous record low of 91.9875 hit earlier this year. The sharp decline came as global markets turned risk-averse amid the intensifying conflict involving the United States, Israel and Iran, which has raised fears of disruptions to energy supplies. Track Live Updates on the Iran-US war hereOil shock rattles markets
The biggest trigger for the rupee’s fall has been the surge in crude oil prices. Brent crude climbed above $82 per barrel after jumping nearly 12–13% in just two days - the steepest rise since 2020 - as traders worried about supply disruptions linked to the war. For India, which imports more than 80% of its crude oil requirements, rising oil prices significantly increase the country’s import bill. This widens the current account deficit and puts pressure on the domestic currency. Economists estimate that every $1 increase in crude oil prices raises India’s import bill by roughly ₹16,000 crore, making the rupee particularly sensitive to oil price shocks. “Higher crude is a direct risk to rupee — we expect slightly heavier RBI intervention but if oil prices remain high, we may have to tolerate a weaker rupee,” Dhiraj Nim, forex strategist at Australia & New Zealand Banking Group Ltd told Bloomberg.Govt on impact of US-Iran war
On Tuesday, the Indian government had warned that any major disruption in the Gulf region could have serious economic consequences for the country's economy. In a statement on Tuesday, the Ministry of External Affairs (MEA) said India was deeply concerned about the growing conflict triggered by US–Israel strikes on Iran and Tehran’s subsequent retaliation. The government stressed that the Gulf region is crucial for India’s trade routes, energy supplies and the livelihoods of millions of Indians working there. “Any major disruption has serious consequences for the Indian economy,” the MEA said, noting that India’s trade and energy supply chains pass through the region.RBI steps in to stabilise currency?
The Reserve Bank of India is believed to have stepped in to support the currency after it breached the 92-per-dollar level, reportedly selling dollars in the market to slow the rupee’s fall. However, analysts warn that sustained pressure from high oil prices could push the currency even weaker. Some forex strategists expect the rupee to test the 93-per-dollar level sooner than previously anticipated if geopolitical tensions persist.Foreign investors pull back
Global investors have also begun pulling money out of Indian markets amid rising uncertainty. Foreign institutional investors have resumed selling equities, with net outflows of thousands of crores in recent weeks. The weakening currency itself can accelerate these outflows, as it erodes returns for foreign investors and raises concerns about corporate profitability due to higher import costs.Markets slump as risk sentiment worsens
The rupee’s slide coincided with a broader sell-off in Indian financial markets. The benchmark Sensex fell nearly 1,800 points in intraday trade, while the Nifty 50 dropped over 550 points as investors dumped risk assets. Overall market capitalisation of BSE-listed firms fell by about ₹12 lakh crore during the session. Meanwhile, India VIX, the volatility index, jumped over 20%, reflecting heightened nervousness among investors. Bond markets also reacted to the oil shock, with the yield on India’s 10-year government bond rising to around 6.72%, complicating the central bank’s efforts to keep borrowing costs stable.Inflation and growth risks ahead
The spike in oil prices threatens to revive inflation pressures just as price growth had begun to stabilise in recent months. Higher fuel costs can ripple across the economy, raising transportation and production costs. Analysts say a prolonged conflict in the Middle East could also disrupt remittances from Indians working in Gulf countries and weaken capital flows into the country. If the crisis drags on, economists warn it could widen India’s current account deficit, accelerate rupee depreciation and weigh on economic growth. ABOUT THE AUTHOR Abhimanyu Kulkarni Abhimanyu Kulkarni has spent over a decade in newsrooms and currently heads the online news desk. He orchestrates the daily narrative of the digital newsroom, managing the homepage, planning long-term news events and writing about India and the World. Abhimanyu excels in high-pressure environments, thriving particularly when navigating the complexities of major breaking news cycles. His strategic approach to digital journalism combines a meticulous eye for detail with a broad vision for organizational growth. Beyond managing the immediate news flow, he is the primary architect for the outlet’s long-term editorial initiatives, ensuring that every project meets the highest standards of journalistic integrity and audience engagement. Expertise & Beat National Affairs: Comprehensive coverage of Indian politics, policy shifts, and election cycles. Geopolitics & World News: Analysis of international relations and global conflict. Beyond the Newsroom Abhimanyu’s professional drive is mirrored by his passion for the pulse of the world; where others see the chaos of a breaking story, he finds a compelling narrative. This innate curiosity about global structures ensures he brings a grounded, human perspective to every headline he manages.Read More Inflation Us Iran War Rupee Us Iran Conflict Iran News Indian Economy Check India news real-time updates, latest news from India, latest US Iran News Live Dubai Abu Dhabi news at HindustanTime News / India News / Why Is The Indian Rupee At Record Low Today, And What's Next Amid Iran-US War See LessThe Indian rupee plunged to an all-time low on Wednesday as escalating tensions in the Middle East sent crude oil prices soaring, sparking fears of higher inflation, a widening trade deficit and capital outflows from emerging markets.
The currency weakened past the psychologically important 92-per-dollar mark for the first time, falling as much as 0.8% to 92.30 against the US dollar. The drop eclipsed its previous record low of 91.9875 hit earlier this year.
The sharp decline came as global markets turned risk-averse amid the intensifying conflict involving the United States, Israel and Iran, which has raised fears of disruptions to energy supplies.
Track Live Updates on the Iran-US war here
For India, which imports more than 80% of its crude oil requirements, rising oil prices significantly increase the country’s import bill. This widens the current account deficit and puts pressure on the domestic currency.
Economists estimate that every $1 increase in crude oil prices raises India’s import bill by roughly ₹16,000 crore, making the rupee particularly sensitive to oil price shocks.
“Higher crude is a direct risk to rupee — we expect slightly heavier RBI intervention but if oil prices remain high, we may have to tolerate a weaker rupee,” Dhiraj Nim, forex strategist at Australia & New Zealand Banking Group Ltd told Bloomberg.
In a statement on Tuesday, the Ministry of External Affairs (MEA) said India was deeply concerned about the growing conflict triggered by US–Israel strikes on Iran and Tehran’s subsequent retaliation. The government stressed that the Gulf region is crucial for India’s trade routes, energy supplies and the livelihoods of millions of Indians working there.
“Any major disruption has serious consequences for the Indian economy,” the MEA said, noting that India’s trade and energy supply chains pass through the region.
However, analysts warn that sustained pressure from high oil prices could push the currency even weaker. Some forex strategists expect the rupee to test the 93-per-dollar level sooner than previously anticipated if geopolitical tensions persist.
The weakening currency itself can accelerate these outflows, as it erodes returns for foreign investors and raises concerns about corporate profitability due to higher import costs.
Overall market capitalisation of BSE-listed firms fell by about ₹12 lakh crore during the session. Meanwhile, India VIX, the volatility index, jumped over 20%, reflecting heightened nervousness among investors.
Bond markets also reacted to the oil shock, with the yield on India’s 10-year government bond rising to around 6.72%, complicating the central bank’s efforts to keep borrowing costs stable.
Analysts say a prolonged conflict in the Middle East could also disrupt remittances from Indians working in Gulf countries and weaken capital flows into the country.
If the crisis drags on, economists warn it could widen India’s current account deficit, accelerate rupee depreciation and weigh on economic growth.
Source: HindustanTimes
Related Posts: Rohit Sharma goes past Pakistan's Shahid Afridi for new ODI world record Dhurandhar actor Naveen Kaushik feels Ranveer Singh deserved more recognition Hurricane Melissa bears down on Jamaica as the strongest storm in recorded history Police Step Up Locker Inspections In Kashmir Hospitals After Arms Recovery Virat Kohli Needs Century In 3rd IND-SA ODI To Equal Babar Azam's Record Of CBSE Class 11 Bank Of Maharashtra Is Hiring For 500 Generalist Officer Posts YouTube Now Offers AI-Powered Search Feature For More Users But Not In India Siri’s Big Upgrade 3-Month CAT 2025 Preparation Plan
The Pentagon on Wednesday announced a five-year, $9.69 billion agreement to consolidate Microsoft and other enterprise software licenses scattered across the military services, the intelligence community, and the U.S. Coast Guard into a single contract vehicle, officials said
55 minutes ago
The Students Federation of India (SFI) on Monday demanded that Chief Minister V.D. Satheesan and Higher Education Minister Roji M. John clarify their stand on the Governor’s order regulating student political activity on the campus of Thunchath Ezhuthachan Malayalam University
56 minutes ago
Karnataka Chief Minister Siddaramaiah has informed his ministers of his decision to step down. Deputy Chief Minister D. K. Shivakumar is expected to take over as the new Chief Minister. This transition follows months of speculation and internal discussions within the Congress party
56 minutes ago
Timothy Hudson update: Anna Kepner's killer remains free after Miami hearing; what's next for him?Timothy Hudson, 16, was charged with killing and sexually assaulting his stepsister, 18-year-old Anna Kepner, on a cruise ship. Published on: May 28
56 minutes ago
Bank Holiday Today: Banks across India are set to remain closed today, May 28, due to the Islamic festival of Bakri Id. Branches won’t open in all cities but a few ones including Bhubaneswar, Gangtok, Guwahati, and Itanagar, according to RBI list on Holiday under Negotiable Instruments Act
56 minutes ago
Vaibhav Sooryanshi, the 15-year-old, has stunned the IPL with his fearless batting. He has taken on champion bowlers like Jasprit Bumrah and Pat Cummins. His teammate Dhruv Jurel praises his self-belief and focus on the ball. Sooryanshi's aggressive style led to a match-winning 97 off 29 balls
56 minutes ago
Ferrari’s debut electric vehicle has landed in the middle of a social media storm after the luxury Italian automaker revealed its first fully electric car, the Luce. Priced at nearly $640,000 (approximately Rs 6 crore), the five-seater electric vehicle was introduced as Ferrari’s first major
56 minutes ago
The U.S. has no timetable for levying on semiconductors but preferential terms have already been agreed under a January trade deal, said on Thursday.The U.S. is removing or cutting some tariffs to 15% on Taiwanese imports as part of a reached in January
55 minutes ago
What began as one student's viral complaint about a mismatch between the physical and digital copies of his Grade 12 physics answer sheet has snowballed into a major controversy around one of India's biggest and most important school-leaving exams
56 minutes ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Xiaomi S Mini LED 65-inch TV review: A big and bright screen you must considerThis TV features a subtle yet premium design that is hard to ignore. While it is far from perfect
56 minutes ago
India has sent emergency pharmaceutical supplies to support efforts to contain the Ebola outbreak in Congo, the Africa Centres for Disease Control and Prevention said on Wednesday (May 28, 2026). In a social media post, Ethiopia-headquartered Africa CDC said the consignment, donated by India
56 minutes ago
Meta on Wednesday launched paid subscription plans for its flagship apps, marking a major push by the tech giant to diversify beyond its longtime reliance on advertising revenue.Meta head of product Naomi Gleit announced the move in a video posted to Instagram, saying she was rolling out
1 hours ago
From Spielberg's epic alien drama to J-Lo in an office romcom and the return of Toy Story, these are the films to watch at the cinema and stream at home this month. "By the power of Grayskull! I – have – the power!" Readers of a certain age may remember that booming battle cry: it rang out
1 hours ago
Woman with ₹90k government job breaks down her monthly expenses: ‘It’s a bit less’A government employee has broken down her monthly expenses, explaining how she manages to survive in the national capital on just ₹25,000 per month Updated on: May 28
1 hours ago
Foreigner ranks 'how safe she felt as a woman' travelling solo in different Indian states: '0/10 in UP, 9/10 in Kerala'After solo travelling in India for a year, a transwoman from NYC ranked states by safety. Her breakdown shows a sharp contrast between north and south India. Published on: May 28
1 hours ago
Siddaramaiah to resign as Karnataka CM at 3 pm today, all eyes on Shivakumar now: SourcesThe decision will come amid indications that the party leadership has cleared the way for deputy CM DK Shivakumar to take over the top post in the state. Updated on: May 28
1 hours ago
Telangana firm Coempt Edutech in focus amid CBSE-OSM rowComplains around OSM have brought in focus a Telangana firm, Coempt Edutech, which Congress MP Rahul Gandhi cited in his recent criticism of the CBSE. Updated on: May 28, 2026 10:47 AM IST Edited by Nayanika Sengupta Share via Copy link The
1 hours ago
Cheat meals have occupied a strangely guilty corner of wellness culture. One pizza slice becomes a “bad day," dessert is treated like a failure, and strict diets often leave people trapped in exhausting cycles of restriction and bingeing. But according to Salman Khan
1 hours ago
Hezbollah said its fighters clashed with Israeli forces beyond an Israeli-declared "yellow line" in south Lebanon on Wednesday (May 27, 2026) despite a ceasefire, a day after Israel said it was expanding ground operations. Israel this week vowed to intensify operations in Lebanon
1 hours ago
India's AI opportunity lies beyond boardrooms in villages, regional languages, and underserved communities. The AI for Bharat & Inclusive Innovation category at the ET Most Innovative AI Product Awards 2026 recognises products driving real impact across agriculture, healthcare, education
1 hours ago
The US Justice Department has charged a software engineer with using insider information to rig bets tied to Google's most-searched list on prediction market , earning $1.2 million in profits, according to a complaint unsealed on Wednesday.Michele Spagnuolo, a 36-year-old Italian citizen
1 hours ago
For years, modern wellness culture sold the idea that better health required optimisation. Protein powders lined kitchen shelves, imported superfoods became pantry staples, and highly structured nutrition plans slowly turned everyday eating into a performance of discipline.For years
1 hours ago
Samsung Electronics union members on Wednesday approved a deal with management securing massive annual bonuses, averting a major strike as the South Korean chip giant's profits soar due to booming demand for artificial intelligence tools. Under the agreement, around 78,000 employees
1 hours ago
Election Commission acted within powers in SIR exercise, Supreme Court saysThe Supreme Court ruled that the EC's SIR exercise was constitutional, necessary for free and fair elections, and within the poll body’s powers. Updated on: May 28, 2026 10:54 AM IST By Utkarsh Anand Share via Copy link
1 hours ago
'How do you take risks with EMIs?' Gurgaon man’s post resonates with working professionalsA Gurgaon coffee shop conversation about startup dreams and monthly EMIs has become widely relatable online. Updated on: May 28, 2026 10:28 AM IST By Vaishali Kapila Share via Copy link Have you ever dreamed
1 hours ago
Approximately 30 lakh beneficiaries of Lakshmi Bhandar, a cash transfer scheme for women implemented by the previous Trinamool Congress government, were ineligible for it, The Indian Express quoted West Bengal Chief Minister Suvendu Adhikari as saying on Wednesday
1 hours ago
Step inside Umaid Bhawan, where Priyanka Chopra, Nick Jonas married: 'The last royal palace of India built in ₹1 crore'Designed by Henry Lanchester, the iconic Umaid Bhawan Palace was completed in 1943. It includes a royal residence, hotel, and museum. Updated on: May 28
1 hours ago
