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Rupee Tumbles Below 96 as Crude Oil Prices Surge Past $105

Guavy AI Editorial Team
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The Indian rupee plummeted to a new low against the U.S. dollar on September 24, 2026, settling at 95.96 after being dragged down by surging crude oil prices and a strong greenback.

Aamir Makda, Commodity & Currency Analyst at Commodity Technical Research, Choice Broking attributed the rupee's sharp decline to rising Brent crude oil prices and a robust U.S. dollar, which gained momentum due to expectations of further Fed rate hikes.

Makda noted that the recent surge in crude oil prices was also driven by geopolitical uncertainties surrounding the Iran conflict, with President Donald Trump threatening 'annihilation' if a deal couldn't be made.

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