The Indian rupee fell to around 96.1 per dollar, extending losses to multi-week lows as elevated crude oil prices, a stronger dollar and expectations of further US monetary tightening weighed on the currency. Brent crude hovered near $108 a barrel, keeping demand for dollars from oil importers elevated, while the US 10-year Treasury yield approached 5%. The pressure intensified after the Federal Reserve raised interest rates by 25 basis points on Wednesday, its first hike since 2023, and signalled another increase could follow this year. The move pushed the Dollar Index above 100 to its highest level in more than a month, while futures indicated roughly a 50% chance of another Fed hike next month. Foreign portfolio outflows from Indian stocks and bonds added to the pressure, although a $703 million allocation of NSE shares to anchor investors and continued RBI dollar sales could provide some support.
The USD/INR exchange rate fell to 95.9650 on September 17, 2026, down 0.17% from the previous session. Over the past month, the Indian Rupee has weakened 0.20%, and is down by 8.80% over the last 12 months. Historically, the USDINR reached an all time high of 99.82 in March of 2026. Indian Rupee - data, forecasts, historical chart - was last updated on September 17 of 2026.
The USD/INR exchange rate fell to 95.9650 on September 17, 2026, down 0.17% from the previous session. Over the past month, the Indian Rupee has weakened 0.20%, and is down by 8.80% over the last 12 months. The Indian Rupee is expected to trade at 95.50 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 93.73 in 12 months time.