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Rupee Dips Against Dollar Amidst Oil Demand, RBI Intervention Limits Further Fall
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News18•30-09-2026, 10:00
Rupee Dips Against Dollar Amidst Oil Demand, RBI Intervention Limits Further Fall
- •The Rupee fell 3 paise to 95.97 against the US dollar in early trade, pressured by persistent dollar demand from state-run oil marketing companies and firm crude oil prices.
- •Dollar sales by state-run banks on behalf of the Reserve Bank of India in both spot and forward markets are restricting the USD/INR pair under the 96.00 level.
- •Foreign portfolio outflows of around USD 2.2 billion this month and firm US yields are also contributing to the pressure on the USD/INR pair.
- •The dollar index was trading higher by 0.04 per cent at 101.40, while Brent crude was up 0.82 per cent at USD 103.43 per barrel.
- •On the domestic equity market, Sensex and Nifty saw gains in early trade, despite Foreign Institutional Investors (FIIs) offloading equities worth Rs 9,980.22 crore on Tuesday.
Key Questions Answered
The rupee declined 3 paise to 95.97 against the US dollar, pressured by persistent dollar demand from state-run oil marketing companies, firm crude oil prices, foreign portfolio outflows, and firm US yields.
The Reserve Bank of India has maintained an active presence through state-run banks selling dollars in both spot and forward markets to restrict the USD/INR pair under the 96.00 level.
In the early trade session, the Sensex rose 190 points to 72,733.04 and the Nifty moved up 22 points to 22,735.20, even as Foreign Institutional Investors offloaded equities worth Rs 9,980.22 crore on a net basis.
