Rupee Plunges Amid Rising Crude Prices and Middle East Tensions

The Indian rupee depreciated by 38 paise to close at 95.92 against the U.S. dollar on September 15, due to escalating West Asia conflict and rising Brent crude oil prices.

Brent crude hit $108 per barrel, and soaring oil prices led to increased demand for dollars from importers, raising concerns over India's external trade balance and inflation.

Forex traders said weak domestic markets, a strong U.S. dollar, and worries about rising global treasury yields further weakened investor sentiment.