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Indian rupee weakens against dollar on Monday
May-18-2026

Indian rupee weakened against the U.S. dollar on Monday amid rising crude oil prices. The Brent crude prices have surged to trade above $110 a barrel amid heightened tension in West Asia after Iran conducted drone strike on United Arab Emirates and Saudi Arabia escalating tensions in West Asia. The US President Donald Trump has issued a fresh warning to Iran saying Iran had to move quickly towards a peace deal or ‘there won't be anything left of them’. Meanwhile, the Periodic Labour Force Survey (PLFS) released by the Ministry of Statistics and Programme Implementation has showed that India's unemployment rate (UR) among persons of age 15 years and above inched higher to 5.2% in April 2026 from 5.1% in the previous month, reflecting the highest ratio since October of the previous year. On the global front, the euro has weakened against the U.S. dollar on Monday amid rising expectations of faster-than-anticipated interest rate hikes by European Central Bank.

Finally, the rupee ended at 96.29 (Provisional), weakened by 48 paise from its previous close of 95.81 on Friday. The currency touched a high and low of 96.39 and 96.11 respectively.

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