INR vs USD Rate, September 15, 2026: Rupee Slumps 38 Paise To Close at 95.92 Against US Dollar

Mumbai: The rupee depreciated 38 paise to close at 95.92 (provisional) against the US dollar on Tuesday, weighed down by escalating Middle East conflict and soaring Brent crude oil prices, which hit USD 108 per barrel.

Forex traders said surging dollar demand from oil importers has sparked fresh concerns over inflation and India’s external trade balance.

Moreover, weak domestic markets, a strong US dollar and worries over rising global treasury yields further dented investor sentiment.

At the interbank foreign exchange market, the rupee opened at 95.84 against the US dollar, then lost ground and closed at 95.92 (provisional) against the American currency, down 38 paise from its previous close.

On Friday, the rupee had settled at 95.54 against the American currency.

Forex and equity markets were closed on Monday on account of Ganesh Chaturthi.

“We expect the rupee to trade with a negative bias on risk-off sentiments in global markets and worries over rising global treasury yields. Rising global crude oil prices amid fears over supply disruption and a strong dollar may also pressurise the rupee,” said Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan.

However, any intervention by the RBI may support the rupee at lower levels. Traders may take cues from ADP weekly employment and Empire State manufacturing index data from the US.

“Investors may remain cautious ahead of the Federal Open Market Committee (FOMC) meeting decision on Wednesday. USD-INR spot price is expected to trade in a range of 95.75 to 96.15,” Choudhary said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.61, higher by 0.22 per cent.

Brent crude, the global oil benchmark, was trading higher by 1.92 per cent at USD 107.71 per barrel in futures trade, amid escalating US-Iran tensions and fears of disruption to oil flows through the Strait of Hormuz.

With Brent crude touching USD 108 per barrel, increased dollar demand from oil importers raised concerns over India’s external balance and inflation, forex traders said.

On the domestic equities market front, Sensex tanked 777.94 points to settle at 74,003.82, while the Nifty dropped 279.50 points to 23,118.60.

Foreign institutional investors (FIIs) offloaded equities worth Rs 930.90 crore on a net basis on Friday, according to exchange data.

Meanwhile, India’s forex reserves jumped by a record USD 44.903 billion to a new lifetime high of USD 785.706 billion during the week ended September 4, the RBI said on Friday.

In the previous reporting week, the overall reserves increased by USD 11.475 billion to USD 740.803 billion.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)