India rupee hits all-time low of 96.47 against USD
19 May 2026
The Indian rupee has hit a new all-time low, falling to 96.47 against the US dollar. The fall comes amid persistently high crude oil prices and weaker Asian currencies.
The decline was further exacerbated by rising US yields. However, state-run banks intervened by selling dollars, indicating possible intervention from the central bank to stabilize the currency.
State-run banks intervene to stabilize currency
Intervention measures
As the Indian rupee continued to fall, state-run banks stepped in by selling dollars.
This move was seen as a possible intervention by the central bank to stabilize the currency.
The intervention came after the rupee fell past its previous low of 96.3875 hit a day earlier, further highlighting the severity of its current situation against the US dollar.µ
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