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Rupee weakens against dollar on Tuesday

19 May 2026 Evaluate

Indian rupee weakened against the U.S. dollar on Tuesday weighed by high crude oil prices and strong dollar buoyed by global risk-aversion. The Brent crude prices continued to trade above $110 a barrel amid supply disruption in the Strait of Hormuz. Besides, the rating agency ICRA lowered the India’s GDP growth estimate to 6.2% in FY27, down from the earlier estimate of 6.5% amid elevated crude oil prices triggered by the West Asia crisis. As per the rating agency, crude oil prices are expected to average at $95 a barrel in FY27, against its prior estimate of $85 a barrel, given the ongoing stickiness in prices amid the stalemate in West Asia. On the global front, the euro has weakened against the U.S. dollar on Tuesday after Eurozone’s trade surplus collapsed to 7.8 billion euro in March 2026.

Finally, the rupee ended at 96.63 (Provisional), weakened by 43 paise from its previous close of 96.20 on Monday. The currency touched a high and low of 96.63 and 96.27 respectively.

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