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Rupee Dips to 95.83 Amid Rising Oil Prices, Strong Dollar; Asian Currencies Mixed
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Moneycontrol•24-09-2026, 09:01
Rupee Dips to 95.83 Amid Rising Oil Prices, Strong Dollar; Asian Currencies Mixed
- •The Indian rupee opened 9 paise lower at 95.83 per dollar on September 24, influenced by renewed oil price increases and a stronger US dollar due to growing US rate hike expectations.
- •Finrex noted that with US yields at 5.13% and the dollar index at 101.14, the rupee is expected to open at 95.86, with RBI actively defending the 96.00 level.
- •RBI Dy. Governor Poonam Gupta indicated the rupee has a strong case for appreciation, while S&P, Fitch, ADB, and Moody’s raised India’s FY-27 GDP growth forecasts to around 7% due to robust economic activity.
- •Exporters are advised to sell near 95.90 where RBI protects the rupee's downside, while importers should buy on dips, such as the one seen on Tuesday at 95.59, and wait to hedge imports.
- •Asian currencies showed mixed performance against the US dollar, with the Indonesian Rupiah gaining 0.37% and the Japanese Yen strengthening 0.285%, while the South Korean Won declined 0.336%.
Key Questions Answered
The Indian rupee opened lower at 95.83 per dollar due to a renewed rise in oil prices and a broadly firmer US dollar driven by growing expectations of US interest rate hikes and rising Treasury yields.
S&P, Fitch, ADB, and Moody's all raised India's FY-27 GDP growth forecast to close to 7%, citing stronger-than-expected economic activity and resilient domestic demand.
The Indonesian Rupiah was the top regional gainer, rising 0.37%, alongside a strengthened Japanese Yen, while the South Korean Won declined 0.336% to become the weakest performer in Asia.
