Brief by Shorts91 Newsdesk / 10:05am on 13 May 2026,Wednesday Business
The Indian rupee slipped to a fresh all-time low of 95.8 against the US dollar on Wednesday as soaring crude oil prices and rising import costs intensified pressure on the economy. The currency weakened amid fears of prolonged disruption in global oil supplies, with Brent crude trading above $107 per barrel. The Centre also raised import duty on gold and silver from 6 per cent to 15 per cent to curb foreign exchange outflow and protect reserves. Despite volatile trading, benchmark indices Sensex and Nifty ended marginally higher. Analysts warned that sustained high oil prices and foreign fund outflows could keep the rupee under pressure in the coming weeks. (PC: ai)
