The Rupee depreciated 20 paise to an all-time low of 96.90 against the U.S. dollar in early trade on Wednesday (May 20, 2026) weighed down by a strong dollar and elevated crude oil prices amid simmering Iran-U.S. tensions.

Forex traders said the outflow by Foreign Institutional Investors (FIIs) and decline in equity benchmark indices also pressured the Rupee.

At the interbank foreign exchange market, the Rupee opened at 96.89 against the U.S. dollar, then slipped further to 96.90, registering a fall of 20 paise from its previous close.

On Tuesday (May 19, 2026), the Indian Rupee slumped for the eighth consecutive session and ended 50 paise down at its record low of 96.70 against the U.S. dollar. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.262, up 0.01%.

Brent crude, the global oil benchmark, was trading down 0.35% $110.59 per barrel in futures trade. On the domestic equity market front, Sensex tanked 517.11 points to 74,667.51 in early trade while Nifty dropped 152.45 points to 23,475.80.

Foreign Institutional Investors turned net sellers after three sessions of buying and offloaded equities worth ₹2,457.49 crore on Tuesday (May 19, 2026), according to exchange data.