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The rupee depreciated 10 paise to 94.66 against the U.S. dollar in early trade on Tuesday (September 8, 2026), as surging Brent crude prices near $97/bbl and West Asian geopolitical friction dampened investor confidence.
Forex traders noted that ongoing RBI dollar sales and strong foreign-currency inflows under special schemes helped keep the rupee range-bound despite heavy external pressures.
At the interbank foreign exchange market, the rupee opened at 94.49 against the U.S. dollar, then touched 94.66, registering a fall of 10 paise from its previous close.
On Monday (September 7, 2026), the rupee fell 13 paise to close at 94.56 against the American currency.
“The RBI’s intervention has been particularly important in preventing higher oil prices from translating into a weaker rupee,” Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP, said.
According to Mr. Bhansali, the rupee is expected to stay in a range of 94.00 to 94.75 as crude oil is near to $97 level while dollar index fell to 98.74 and RBI continues to sell USD keeping rupee within the range.
Market is awaiting for U.S. and India CPI data as well as the FOMC on September 16 for further cues, he said.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 98.80, lower by 0.37%.
Brent crude, the global oil benchmark, was trading up 0.63% at $97.61 per barrel in futures, amid escalating US-Iran tensions and fears of disruptions to oil flows through the Strait of Hormuz.
On the domestic equities market front, Sensex dropped 382.25 points to 75,750.56 in early trade, while the Nifty declined 97.80 points to 23,681.80.
Foreign institutional investors (FIIs) purchased ₹280.13 crore worth of equities on a net basis on Monday (September 8, 2026), according to exchange data.
Published – September 08, 2026 10:23 am IST
