Rupee slips 6 paise to 96.31 against U.S. dollar in early trade
The Indian rupee has weakened against the U.S. dollar due to rising geopolitical tensions in West Asia and volatile global oil prices. While domestic equity markets showed some resilience, the currency remains under pressure from foreign institutional investor outflows.
Why it matters
Currency fluctuations impact inflation and import costs, making this a critical indicator for the stability of the Indian economy during international crises.
The rupee declined 6 paise to 96.31 against the U.S. dollar in early trade on Thursday (July 16, 2026) amid volatility in global crude oil prices and a stronger greenback with the West Asia crisis showing no signs of abating.
FII outflows continued to weigh on the local unit while a positive start to the day at the domestic equity markets provided support, according to forex traders.
At the interbank foreign exchange, the rupee opened at 96.28 against the greenback before slipping further to 96.31 from its previous close.
The local unit had on Wednesday extended its slide for the third straight day and settled 9 paise lower at 96.25 against the U.S. dollar.
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