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Rupee Plunges 20 Paise to 95.95 Against US Dollar Amid West Asia Conflict, Oil Price Surge
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News18•28-09-2026, 10:15
Rupee Plunges 20 Paise to 95.95 Against US Dollar Amid West Asia Conflict, Oil Price Surge
- •The Indian rupee depreciated by 20 paise to 95.95 against the US dollar in early trade on Monday.
- •The fall is attributed to a strengthening US dollar, continued foreign fund outflows, and the ongoing West Asia conflict.
- •Elevated global crude oil prices, with Brent futures trading at USD 106.81 per barrel, further pressured the local currency.
- •The rupee opened at 95.89 and touched 95.95, marking a 20 paise loss from its previous close of 95.75.
- •Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,693.93 crore on Friday, contributing to the rupee's decline.
Key Questions Answered
The rupee depreciated 20 paise to 95.95 against the US dollar as the greenback strengthened further and foreign fund outflows continued unabated amidst the ongoing West Asia conflict. Elevated global crude oil prices also placed additional pressure on the local currency.
During early trade, the domestic equity market saw significant losses as the Sensex tanked 730 points to 73,170.12 and the Nifty dropped 231.50 points to 22,908.95. Additionally, Foreign Institutional Investors offloaded equities worth Rs 3,693.93 crore on a net basis on Friday.
India's foreign exchange reserves dropped by USD 14.881 billion down to USD 765.901 billion during the week ended September 18. This decline was primarily driven by a fall in foreign currency assets.
