Since the start of US-Iran war on February 28, INR has crashed 5.5%

Indian rupee hits all-time low of 96.18 against US dollar

By Mudit Dube

May 18, 2026

09:41 am

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What's the story

The Indian rupee has hit an all-time low of 96.18 against the US dollar on Monday. The fall comes as global bond yields have surged, driven by high energy prices amid the ongoing US-Iran war. The spike in yields has dented investor confidence and worsened economic challenges for India, the world's third-largest crude importer.

Continuous fall

Rupee has fallen over 5% since US-Iran war began

The rupee's latest fall marks its fifth consecutive session of hitting a new low. It has fallen 0.2% on Monday, surpassing its previous all-time low of 96.1350. Since the outbreak of the US-Iran war on February 28, the currency has plummeted by a staggering 5.5%. This makes it Asia's worst-performing currency so far this year.