Currency Buzz: INR tanks to all time low above 96 per US dollar

The Indian rupee slipped to a fresh all-time low on Friday, as oil prices continued to soar. In a key release for the INR, the trade deficit in India widened to $28.4 billion in April of 2026 from $27.1 billion in the corresponding period of the previous year. A sharp spurt in the US dollar index which broke above 99 mark on higher US Treasury yields also weighed on the local currency. The ⁠INR tested low of 96.14 per US dollar and currently quotes at 95.86, down 22 paise on the day.

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