On Thursday, the Indian rupee dropped to a record low of 95.85 per U.S. dollar, surpassing its previous low of 95.7950. This decline of 0.1% reflects ongoing pressures from elevated oil prices and significant foreign portfolio outflows, which have strained both the current and capital accounts of India's economy. Over the past week, the rupee has fallen 1.4%, marking a troubling trend as it hit record lows in each trading session from Tuesday to Thursday. India's heavy dependence on oil imports, accounting for approximately 90% of its needs, makes the currency particularly susceptible to fluctuations, especially with ongoing geopolitical tensions affecting oil supply, such as the conflict in Iran.