Rupee settles eight paise lower at 96.33 against U.S. dollar
The Indian rupee depreciated for the fourth consecutive day, settling at 96.33 against the U.S. dollar. The decline is attributed to geopolitical tensions in West Asia, rising crude oil prices, and foreign institutional investor outflows.
Why it matters
Currency fluctuations impact India's import costs and inflation, making this a critical indicator for the country's macroeconomic stability.
The rupee depreciated for the fourth straight day, shedding 8 paise to settle at 96.33 (provisional) against the U.S. dollar amid volatility in global crude oil prices and a stronger greenback as the West Asia crisis intensified.
Foreign Institutional Investor outflows put further pressure on the local unit, forex traders said.
At the interbank foreign exchange, the rupee opened at 96.28 against the greenback and traded in a range of 96.22-96.37 during the session. It settled at 96.33 (provisional), down 8 paise from its previous close.
The local unit had on Wednesday (July 15, 2026), settled 9 paise lower at 96.25 against the U.S. dollar.
Crude oil prices remain elevated amid back-and-forth strikes by the U.S. and Iran across West Asia . Renewed threats to the Strait of Hormuz have shredded the interim deal to end the Iran war and could tip the region back into all-out war.
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