The rupee fell to a record low of 95.40 against the US dollar in early trade on Tuesday, falling further by 17 paise after ending the previous session at its weakest closing level so far. Earlier on Monday, the currency had fallen by 39 paise and closed at 95.23 against the greenback.This comes as global uncertainty continues to rise due to rising tensions in the Middle East, sending financial markets tumbling. Crude oil prices remain high, raising concerns about inflation and slow economic growth. The rupee opened at 94.95 in the interbank foreign exchange market during Monday’s trade and slipped throughout the session to close at 95.23.Cautious sentiment was visible on Dalal Street as benchmark indices also fell into the red. As of 9:40 am, BSE Sensex was trading at 77,090.12, down 179.28 points or 0.23%. NSE Nifty 50 also fell by 63.85 points or 0.26% to 24,036.95.“Indian rupee has hit record low due to recovery in dollar and strengthening of crude oil prices. The ongoing surge in oil prices coupled with foreign fund outflows is putting obvious pressure on India’s trade balance and broader economy. Persistent dollar demand is expected to keep the rupee under pressure in the near term, pushing USD/INR towards 95.35 and 95.70 levels,” HDFC Securities Senior Research Analyst Dilip Parmar told PTI. Will increase.“Based on exchange data, foreign institutional investors remained net buyers of equities worth Rs 2,835.62 crore on Monday. Oil prices continue to rise in the commodity market. Crude oil prices were trading around $113 a barrel on May 5 as fresh attacks in the Strait of Hormuz raised fears over the sustainability of the US-Iran ceasefire.