Rupee plunges 23 paise to 95.96 against U.S. dollar amid spike in crude oil

The rupee weakened by 23 paise to settle at 95.96 (provisional) against the U.S. dollar on Thursday (September 24, 2026), dragged by a surge in crude oil prices and a strong greenback amid geopolitical uncertainties.

According to forex traders, the domestic currency was also weighed down by heavy selling in domestic equity markets as investors moved toward risk aversion, adding strength to the dollar, even as rising inflation concerns pushed U.S. bond yields higher.

At the interbank foreign exchange market, the rupee opened at 95.84 and touched the intraday low of 95.98 against the American currency. The unit finally ended the session at 95.96 (provisional) against the greenback, down by 23 paise from its previous closing level.

The rupee closed 11 paise lower at 95.73 against the U.S. dollar on Wednesday (September 23, 2026), a day after appreciating by 16 paise.