1 week ago
Rupee Slips Four Paise Against Dollar Amid Oil Pressure
The Indian rupee became slightly weaker against the US dollar on Tuesday.
It fell by four paise to reach 95.74 rupees per dollar.
Higher oil prices made it harder for the rupee to gain strength.
Importers also needed more dollars, adding pressure.
The Reserve Bank of India helped support the rupee by trading in the currency market.
The rupee has stayed within a narrow range for about two weeks.
The dollar gained some strength because of concerns involving Iran.
Oil prices rose, while Indian stock markets started the day lower.
The rupee fell 4 paise to 95.74 against the US dollar in early Tuesday trade.
Elevated crude prices and importer demand for dollars pressured the Indian currency.
RBI intervention through state-run banks helped limit the rupee’s decline.
The rupee has remained range-bound around ₹95.50–96.00 for the past two weeks.
Brent crude rose 0.30% to USD 92.45 per barrel, while Indian equities opened lower.
- Who
- The Indian rupee, the US dollar, importers, the Reserve Bank of India, and currency traders.
- What
- The rupee fell 4 paise to 95.74 against the US dollar in early trade.
- Where
- The interbank foreign-exchange market in India.
- When
- Early trade on Tuesday; foreign-exchange inflow data was reported as of August 21, 2026.
- Why
- Higher crude prices, importer dollar demand, weaker Asian equities, and geopolitical uncertainty around Iran pressured the rupee, while Reserve Bank of India intervention limited the decline.
Key facts
- Rupee rate
- 95.74 per US dollar in early trade
- Daily movement
- Down 4 paise from the previous close
- Previous close
- 95.70 per US dollar on Monday
- Recent trading range
- Approximately ₹95.50–96.00 for the last two weeks
- Brent crude
- USD 92.45 per barrel, up 0.30% in futures trade
- Dollar Index
- 99.04, up 0.04%
- Foreign-exchange inflows
- USD 73 billion mobilised through the Reserve Bank of India’s special USD-INR swap facility as of August 21, 2026
Quotes
Anil Kumar Bhansali
Head of Treasury and Executive Director at Finrex Treasury Advisors LLP
“Overall, the rupee remains firmly range-bound around ₹95.50–96.00, with oil prices and RBI intervention likely to remain the key near-term drivers”
deccanchronicle.com
Sources
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