Rupee falls 38 paise to 95.92 against US dollar
Babushahi Bureau
Mumbai (Maharashtra), September 16, 2026: The Indian rupee fell 38 paise to close at a provisional 95.92 against the US dollar on Tuesday, weighed down by a sharp rise in crude oil prices and heightened geopolitical tensions in the Middle East.
The rupee opened at 95.84 against the dollar in the interbank foreign exchange market and weakened further during the session. It had closed at 95.54 on the previous trading day.
Trading resumed on Tuesday after the foreign exchange and equity markets remained closed on Monday for Ganesh Chaturthi.
Brent crude oil futures rose nearly 2 per cent to around $108 a barrel amid concerns over possible supply disruptions through the Strait of Hormuz. Higher crude prices raised concerns over India’s import bill, trade deficit and inflationary pressures.
Domestic equities also remained under pressure. The BSE Sensex fell 777.94 points, or 1.04 per cent, to close at 74,003.82, while the NSE Nifty 50 declined 279.50 points, or 1.19 per cent, to settle at 23,118.60.
The US Dollar Index rose to 99.61, while higher global Treasury yields added to pressure on emerging-market currencies.
Market analysts expect the rupee to remain volatile with a negative bias in the near term. The USD/INR spot rate is expected to move in the 95.75-96.15 range, although potential intervention by the Reserve Bank of India could provide support to the domestic currency.
India’s foreign exchange reserves, which stood at a record $785.7 billion, are also expected to provide a cushion against sharp currency volatility.