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Rupee Dives to 96.13 Amid Crude Price Hikes and Foreign Fund Outflows

Guavy AI Editorial Team Published September 30, 2026

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USD

The Indian rupee declined to 96.13 against the US dollar on Tuesday amid concerns of rising crude oil prices and foreign outflows.

The rupee fell by 16 paise in early trading, a significant drop from its previous closing rate of 95.97.

Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities, warns that the rupee could weaken further to 96.50 in the coming days.

The decline has been attributed to escalating crude oil prices, now at $106.87 per barrel, which increases import costs for India.

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