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Forex

Rupee Cedes Ground Against Dollar Amid Firm Oil Prices

Guavy AI Editorial Team
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USD
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The Indian rupee traded in a narrow range against the U.S. dollar on September 30, 2026, due to persistent demand for dollars from state-run oil marketing companies and firm crude oil prices.

The rupee fell by 3 paise to 95.97 against the dollar, restricted under the 96 level by dollar sales from state-run banks on behalf of the Reserve Bank of India in both spot and forward markets.

Foreign portfolio outflows of around $2.2 billion this month and firm U.S. yields are also keeping pressure on the USD/INR pair.

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