Archive · 15 Sep 2026
Rupee Ends Six-Session Slide at 95.88 as Oil Surges
The Indian rupee became weaker against the US dollar for the sixth trading session in a row.
It opened at 95.84 and finished at 95.88 per dollar.
Oil prices rose sharply as tensions involving the United States and Iran increased.
More expensive oil means Indian importers may need more dollars to pay for it.
This can put pressure on the rupee and raise concerns about inflation.
Investors also preferred the dollar because they were worried about global risks and higher bond yields.
Indian share markets fell by the end of the day.
Analysts said the rupee could remain under pressure, although possible action by the Reserve Bank of India could provide support.
India’s foreign-exchange reserves nevertheless reached a record USD 785.706 billion for the week ended September 4.
The rupee opened at 95.84 and ended at 95.88 against the US dollar on Tuesday.
It weakened 34 paise from its previous close of 95.54, extending losses for a sixth straight session.
Brent crude rose to USD 107.71 per barrel in futures trading and touched about USD 108 amid US-Iran tensions.
Strong dollar demand from oil importers, higher global bond yields and risk aversion raised concerns over India’s inflation and external balance.
The Sensex fell 777.94 points and the Nifty declined 279.50 points, while foreign investors sold Rs 2,977.86 crore of equities.
- Who
- The Indian rupee, oil importers, forex traders, investors, the Reserve Bank of India and Indian equity markets were involved.
- What
- The rupee weakened 34 paise to close at 95.88 against the US dollar, extending its decline for a sixth session.
- When
- Tuesday, September 15, after Indian forex and equity markets were closed on Monday for Ganesh Chaturthi.
- Where
- At the interbank foreign exchange market in Mumbai, India.
- Why
- Escalating Middle East tensions, higher crude prices, strong dollar demand, rising global Treasury yields and investor risk aversion pressured the rupee.
Pressure on the Rupee
Potential Support
Near-term currency direction
Pressure on the Rupee
Analysts said rising crude prices, strong dollar demand, higher global Treasury yields and risk aversion could keep the rupee under pressure.
Potential Support
Analysts said possible Reserve Bank of India intervention could support the rupee at weaker levels.
Market outlook
Pressure on the Rupee
Mirae Asset Sharekhan and HDFC Securities described a negative or dollar-favouring bias, citing supply-disruption fears and risk aversion before the Federal Open Market Committee decision.
Potential Support
The rupee traded within a reported range of 95.75 to 96.15, while analysts identified support around 95.45, indicating levels where buying or intervention could limit further declines.
- Rupee opening rate
- 95.84 per US dollar
- Rupee closing rate
- 95.88 per US dollar
- Daily change
- Down 34 paise from 95.54
- Trading range
- 95.75 to 95.96
- Brent crude
- USD 107.71 per barrel, up 1.92% in futures trade; it touched about USD 108
- Dollar index
- 99.61, up 0.22%
- Indian equities
- Sensex fell 777.94 points to 74,003.82; Nifty dropped 279.50 points to 23,118.60
- Foreign-exchange reserves
- Rose by USD 44.903 billion to a record USD 785.706 billion in the week ended September 4
