Business Desk- Dollar vs Rupee: On Friday, May 15, 2026, the rupee reached its lowest ever level of 96.14 against the US dollar. Since this morning, there has been a lot of uproar across the country due to the rising prices of petrol and diesel.
CNG prices have also been increased in big cities like Delhi and Mumbai. As a result, the economic burden on the common citizen is continuously increasing. The main reasons for this fall in the rupee are rising crude oil prices, strengthening US dollar and aggressive policy statements coming from America.
Fall of more than 90 paise in a week
Due to increasing tension in the Middle East, there has been a huge jump in the prices of crude oil. The dollar index is continuously strengthening. Its effect is clearly visible on the Indian currency rupee. The rupee has weakened by 90 paise in just a week. Market experts have also attributed the main reason for this fall in the rupee to the effect of increasing geopolitical tension.
Rupee: One of the worst performing currencies in Asia
After falling for the fourth consecutive trading session, the rupee has now joined the list of Asia’s worst performing currencies. The weakening of the rupee has the biggest impact on imports. India is a major importer of a variety of commodities including crude oil, gold and silver. Continuous decline in rupee increases the risk of rising inflation within the country.
Increasing burden of inflation on the public
Indian oil marketing companies today increased the prices of petrol and diesel by Rs 3 per liter. Buying oil has become expensive due to rising crude oil prices in the global market. Indian oil companies are continuously suffering financial losses. The country’s import bill is continuously increasing.
The increasing tension between America and Iran is posing a serious crisis for the global economy. Prime Minister Narendra Modi has also appealed to the public twice within 24 hours. They have been urged to minimize the purchase of foreign currency in this critical period of the country.
For this purpose, he has appealed to the citizens not to buy gold for a year and reduce fuel consumption, so that the country’s import bill can be reduced. If tensions in West Asia do not subside soon, many countries including India may face a major economic crisis.
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