Rupee hits two-month low, breaches 96/USD mark as oil worries deepen
Economic Times 1 hr ago·29 Sept 2026, 3:59 am
The rupee slipped to around 96.15 against the dollar, breaking the 96‑per‑dollar barrier for the first time in two months. The slide was sparked by a jump in global oil prices, with Brent crude climbing above $107 a barrel, and growing concerns about the impact on India’s trade balance.
Higher oil costs raise the import bill and can feed into inflation, which in turn pressures the central bank’s policy stance and corporate profit margins. The currency weakness also makes foreign investors more cautious, adding to the outflows that have been seen in recent weeks.
Investors should keep an eye on oil price movements, any RBI steps to support the rupee, and upcoming data on trade and inflation. Shifts in US dollar strength and foreign fund flows will also be key drivers of the rupee’s next moves.
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- Category: Forex.
- AI reads the tone as negative (potentially bearish) for the stock.
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