1 hr ago
Indian Rupee Slips as Crude Nears $97 Amid Tensions
India’s rupee became slightly weaker against the US dollar on Tuesday.
It was worth 94.66 rupees for one dollar in early trading.
Higher oil prices made investors more worried because expensive oil can put pressure on India’s currency.
Tensions involving the United States and Iran also hurt confidence.
The Reserve Bank of India sold dollars to help prevent a bigger fall.
A market expert expects the rupee to remain between 94.00 and 94.75.
Investors are waiting for inflation figures from India and the United States.
They are also watching a US Federal Reserve meeting scheduled for September 16.
The rupee fell 10 paise to 94.66 against the US dollar in early Tuesday trade.
It opened at 94.49 after closing at 94.56 on Monday, when it declined 13 paise.
Rising Brent crude prices and escalating US-Iran tensions weighed on investor confidence.
Reserve Bank of India dollar sales and foreign-currency inflows helped limit the rupee’s decline.
The Sensex and Nifty fell in early trade, while foreign institutional investors bought Indian equities worth Rs 280.13 crore on Monday.
- Who
- The Indian rupee, the Reserve Bank of India, investors and foreign-exchange traders were involved.
- What
- The rupee depreciated 10 paise to 94.66 against the US dollar in early trade.
- Where
- At the interbank foreign-exchange market; the report identifies Mumbai as the dateline.
- When
- Tuesday, September 8, 2026; the report was published on September 8, 2026.
- Why
- Higher Brent crude prices, escalating US-Iran tensions and concerns about oil-flow disruptions weakened investor sentiment, while RBI dollar sales limited the decline.
Key facts
- Rupee rate
- 94.66 per US dollar in early trade
- Opening rate
- 94.49 per US dollar
- Previous close
- 94.56 per US dollar
- Brent crude
- Up 0.63% at USD 97.61 per barrel in futures trade
- Dollar index
- 98.80, down 0.37%
- Expected rupee range
- 94.00 to 94.75, according to Anil Kumar Bhansali
- Equity markets
- Sensex fell 382.25 points to 75,750.56; Nifty fell 97.80 points to 23,681.80
- Foreign institutional investors
- Net purchasers of Indian equities worth Rs 280.13 crore on Monday
Quotes
Anil Kumar Bhansali
Head of Treasury and Executive Director at Finrex Treasury Advisors LLP
“The RBI's intervention has been particularly important in preventing higher oil prices from translating into a weaker rupee.”
deccanchronicle.com
thehindubusinessline.com
Sources
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