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INR tests record lows as oil prices remain in focus
(05-May-2026, 17:20 Hours IST)  
The Indian Rupee is slippery after tanking on Monday. The INR closed flat at 95.24 per dollar after hitting record lows of 95.44 per US dollar. The US dollar index is up marginally at 98.30 mark. INR recovered in intraday moves as WTI Crude oil futures slipped more than 2%. Meanwhile, domestic equity benchmarks ended with modest losses on Tuesday, as sentiment was hit by the rupee weakening to a record low of Rs 95.44 against the US dollar, while the weekly expiry of Nifty derivatives added to market volatility. Escalating US'Iran tensions further dampened investor confidence, erasing recent optimism following state election results and mirroring weakness in global markets. On NSE, USD/INR futures closed at 95.38, up marginally on the day after approaching 95.70 mark in intraday moves.

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