Rupee Touches 95.65 Against Dollar on Crude Oil Price Pullback

The Indian rupee has started the day on a positive note, rising to 95.65 against the US dollar in early trade on Tuesday (September 22, 2026). This marks a gain of 13 paise from its previous close.

The appreciation is attributed to a pullback in crude oil prices and positive domestic market sentiment. Brent crude retreating from elevated levels on easing immediate supply concerns has also contributed to the rupee's rise.

Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities, notes that the rupee remains range-bound. He predicts that 96.30 is the upper cap for the currency pair, with strong Reserve Bank intervention expected as it approaches 96.30-96.50.

The central bank has been actively draining surplus liquidity through bond sales and reverse-repo auctions, which is keeping the adjustment orderly, according to Banerjee.