Forex

Rupee's RBI-backed rally falters, slips past 95 on oil, slowing intervention

Economic Times MarketsWednesday, 9 September 2026

The Indian rupee slid past ninety-five against the dollar on Wednesday, influenced by climbing oil prices that have offset recent interventions by the central bank. The situation is exacerbated by escalating tensions in the Middle East, which are pushing Brent crude prices toward one hundred dollars per barrel. As a major oil importer, India faces considerable challenges, and the rupee's downturn underscores its susceptibility to adverse global economic trends.

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