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Rupee Plunges to 95.96 Against US Dollar Amid Soaring Crude Oil Prices
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News18•24-09-2026, 16:15
Rupee Plunges to 95.96 Against US Dollar Amid Soaring Crude Oil Prices
- •The rupee weakened by 23 paise to settle at 95.96 against the US dollar, driven by a surge in crude oil prices and a strong greenback.
- •Geopolitical uncertainties and heavy selling in domestic equity markets contributed to the rupee's depreciation.
- •Brent crude futures rose sharply by 2.74% to USD 105.90 per barrel, significantly higher than pre-Iran war levels.
- •The dollar index increased by 0.18% to 100.99, reflecting the greenback's strength against a basket of six currencies.
- •Domestic equity markets saw significant declines, with Sensex falling 1.67% and Nifty plunging 1.64%.
Key Questions Answered
The rupee weakened by 23 paise to settle at 95.96 against the US dollar due to a surge in crude oil prices, a strong greenback, geopolitical uncertainties, and heavy selling in domestic equity markets.
Brent crude futures traded sharply higher by 2.74 per cent at USD 105.90 per barrel, while the dollar index traded up 0.18 per cent at 100.99.
The domestic equity markets experienced a major sell-off, with the Sensex tanking 1,247.71 points to settle at 73,580.54 and the Nifty plunging 383.70 points to 23,063.10.
