Rupee Slumps Against Dollar Amid Crude Price Hikes and Middle East Tensions
The Indian rupee depreciated to 95.84 against the US dollar on Tuesday (September 15, 2026) in early trade due to elevated Brent crude oil prices and heightened tensions in West Asia.
According to Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, the surge in crude oil prices and increased safe-haven demand for the dollar have pushed U.S. Treasury yields higher.
The Brent crude benchmark was trading at $106.94 per barrel, up 1.19% from previous levels, amid escalating US-Iran tensions and fears of disruption to oil flows through the Strait of Hormuz.