Archive · 20 Jul 2026
Rupee hits two-month low amid oil surge
The Indian rupee dropped to its lowest point in two months on Monday.
This happened because oil prices went up and there were worries about global politics.
At one point, the rupee was at 96.53 against the dollar, but it ended the day at 96.45.
Oil prices first rose to $91.42 per barrel but then fell to $87.56 after talks between Iran and the US improved.
The Reserve Bank of India (RBI) helped by selling dollars to support the rupee.
Experts say the rupee might go up to 97 if things don't change, but the RBI is likely to keep helping to keep it stable.
The rupee has dropped 7.3% so far this year, and not as much money as expected is coming in through a special bank deposit scheme.
The Indian rupee fell to a two-month low of 96.53 against the dollar before settling at 96.45.
Rising oil prices to $91.42 per barrel initially weighed down the rupee, but it retreated to $87.56 after mediation talks.
The RBI intervened through dollar sales to prevent further losses and stabilize the currency.
Market analysts suggest the rupee could move toward 97 if conditions remain unchanged, but the RBI is likely to intervene regularly.
The rupee has declined 7.3% so far this year, and FCNR(B) inflows fell short of initial expectations.
- Who
- Indian Rupee, Reserve Bank of India (RBI), Market Analysts
- What
- Rupee fell to a two-month low due to rising oil prices and geopolitical uncertainty
- When
- Monday
- Where
- India
- Why
- Rising oil prices and geopolitical uncertainty weighed down the rupee, but RBI intervention and slight retreat in oil prices helped stabilize it.
Market Analysts
RBI
Rupee Stability
Market Analysts
The rupee could move toward 97 if conditions remain unchanged.
RBI
Regular intervention in the 96.50–97 range to stabilize the currency.
- Lowest Point
- 96.53 against the dollar
- Closing Rate
- 96.45 against the dollar
- Oil Price High
- $91.42 per barrel
- Oil Price Low
- $87.56 per barrel
- RBI Intervention
- Dollar sales to support the currency
- FCNR(B) Inflows
- $17.4 billion
- Total Inflows
- $20.7 billion
- Yearly Decline
- 7.3%