Rupee Slides to 95.79 Against Dollar Amid Crude Price Spike

The Indian rupee depreciated by 27 paise to 95.79 against the U.S. dollar in early trade on Friday, September 11, 2026.

The decline was driven by elevated crude oil prices and foreign portfolio outflows, which continue to put pressure on the currency.

Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities, noted that while record foreign exchange reserves, active Reserve Bank intervention, and robust domestic growth provide support, rising global yields and crude trading above $108 continue to weigh heavily on India's import bill.

Banerjee predicted that the rupee could see 96 as a target, with 95 now acting as support.