Rupee falls 21 paise to 94.95 against U.S. dollar in early trade

The rupee depreciated 21 paise to 94.95 against U.S. dollar on Wednesday (September 9, 2026) weighed down by surging crude oil prices, which inched closer to the $100-a-barrel mark amid the simmering U.S.-Iran tensions.

A weak dollar, however, cushioned the fall, forex traders said.

At the interbank foreign exchange market, the rupee opened at 94.80 against the U.S. dollar, then touched 94.95, registering a fall of 21 paise from its previous close.

On Tuesday (September 8), the rupee fell 18 paise to close at 94.74 against the American currency.

"Indian rupee opened lower on escalating geopolitical tensions and a surge in crude oil prices. Brent has neared the $100 mark as U.S. and Iran attack each other," said Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan.

“The local currency is expected to trade with a negative bias on rising crude oil prices and escalating geopolitical tensions,” he said.