Rupee Slumps as Crude Prices Soar Amid US-Iran Tensions

The Indian rupee has depreciated against the US dollar in early trade on Wednesday (September 9, 2026), weighed down by rising crude oil prices. Brent crude neared the $100 mark amid escalating tensions between the US and Iran. The dollar index was trading at 98.76, down 0.03%, as a weak greenback cushioned the rupee's fall. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said that the local currency is expected to trade with a negative bias due to rising crude oil prices and geopolitical tensions. The rupee opened at 94.80 against the US dollar before touching 94.95, registering a decline of 21 paise from its previous close.