Rupee Quote: 15 July 2026

The Indian rupee extended its downward trajectory for a third consecutive session and settled at a weakest level since 21st May, pressured by escalating crude oil prices and sustained US dollar demand from importers.
Earlier, the local currency initially opened stronger buoyed by a weakening greenback after softer-than-expected US Consumer Price Index data pared expectations of further Federal Reserve monetary tightening these gains proved unsustainable. Intraday momentum reversed as rising energy costs and persistent importer demand weighed heavily on market sentiment. Consequently, the rupee has depreciated by approximately 2.4% from its June peak of 94.14 against the US dollar, a decline largely driven by heightened geopolitical uncertainties and concerns that El Niño-induced weather disruptions could exacerbate domestic inflationary pressures.
From a technical perspective, the spot USDINR pair faces immediate resistance at 96.50, with downside support at 95.85. The bias remained favourable for the dollar bulls.