INR-USD
India’s Rupee in freefall — Smashes 96 mark for first time ever
The Indian rupee slipped to an all-time low of 96.05 against the US dollar on Friday, weakening by 0.3% and breaching the 96-mark for the first time on record. The previous lowest level stood at 95.9575 per dollar.
Currency markets have remained under pressure amid rising global crude oil prices and persistent concerns over India’s widening import bill. Brent crude hovered near USD 110 per barrel, adding strain to the rupee, which is highly sensitive to energy costs given that India imports nearly 85% of its crude oil requirements.
Adding to the macroeconomic stress, India’s wholesale inflation rose sharply to 8.3% in April, compared to the previous month, according to government data released on Thursday. The increase was driven primarily by higher prices in mineral oils, crude petroleum, natural gas, basic metals, and other manufactured goods.
“The annual rate of inflation based on the All India Wholesale Price Index (WPI) stood at 8.3% (provisional) in April 2026 (over April 2025),” the official statement noted, highlighting broad-based price pressures across multiple sectors.
On a month-on-month basis, the WPI rose 3.86% in April 2026 compared to March 2026.
Primary Articles
The index for primary articles increased by 2.58%, reaching 202.4 points in April from 197.3 in March. Prices of crude petroleum and natural gas rose sharply by 16.42%, while food articles and minerals also registered gains. Non-food articles saw a marginal decline.
Fuel and Power
The fuel and power group surged 18.22%, rising to 181.7 points from 153.7, largely driven by a 29.37% jump in mineral oil prices, even as electricity costs declined slightly.
Manufactured Products
The manufactured products index rose 1.40% to 151.6 points, with 21 of 22 industry groups recording price increases. Key contributors included basic metals, chemicals, textiles, food products, and machinery, while only the “other manufacturing” segment declined.
Food Index
The WPI Food Index increased from 192.8 in March to 195.1 in April, with food inflation rising to 2.31% from 1.85% over the same period.
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