Rupee falls 39 paise to 95.77 against U.S. dollar in early trade
The Indian rupee dropped 39 paise to 95.77 against the U.S. dollar following the closure of the Strait of Hormuz by Iran. Rising crude oil prices and geopolitical tensions between the U.S. and Iran have negatively impacted domestic financial markets.
Why it matters
Geopolitical instability in the Middle East is directly impacting global oil prices and the valuation of the Indian currency.
The rupee fell 39 paise to 95.77 against the American currency in early trade on Monday (July 13, 2026) weighed down by elevated crude oil prices.
Forex traders said with Brent oil prices rising over $79 a barrel, the Indian rupee is expected to open weaker at 95.53 levels after Iran declared the Strait of Hormuz as closed.
At the interbank foreign exchange market, the rupee opened at 95.72, then touched 95.77 against the U.S. dollar, registering a loss of 39 paise from its previous close.
On Friday (July 10, 2026), the rupee rose 9 paise to settle at 95.38 against the U.S. dollar.
"The renewed fighting between the US and Iran revived fears of a major disruption to global Crude supplies," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.
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