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Rupee Gains 24 Paise Against US Dollar Amidst Moderating Oil Prices
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News18•21-09-2026, 10:15
Rupee Gains 24 Paise Against US Dollar Amidst Moderating Oil Prices
- •The Indian rupee strengthened by 24 paise to 95.72 against the US dollar in early trade on Monday.
- •The gain was supported by a slight moderation in crude oil prices and a positive trend in domestic equities.
- •Despite initial gains, sustained importer demand for US dollars and a stronger US dollar Index limited further appreciation.
- •Brent crude oil prices were trading lower by 2.10 percent at USD 101.69 per barrel.
- •Domestic equities saw a positive start, with Sensex and Nifty recording gains in early trade.
Key Questions Answered
The rupee gained 24 paise to reach 95.72 against the US dollar, supported by a slight moderation in crude oil prices and positive trends in domestic equities.
Anindya Banerjee from Kotak Securities stated they expect a broad trading range of 95.60 to 96.50 for the rupee, with the 96.40 to 96.50 zone acting as a stiff resistance level.
India's forex reserves dropped by USD 4.924 billion down to USD 780.782 billion during the week ended September 11 due to a decrease in foreign currency and gold reserves.
