Indian rupee falls 1.1% to 95.55, worst since mid-May

Business Sep 11, 2026

The Indian rupee just had its sharpest fall since mid-May, slipping 1.1% against the US dollar and closing at 95.55 on Friday.

This comes after a short-lived high earlier this month, so it's been a rough week for the currency.

Yields and $100 oil hit rupee

Rising global oil prices ($100 a barrel) and higher bond yields are making things tough for the rupee.

Even though oil eased up slightly after news about shipping talks in the Strait of Hormuz, it wasn't enough to stop the decline.

RBI swaps used, US inflation eyed

To help steady things, traders said India's central bank had been intervening with dollar-rupee swaps and is considering more moves like bond sales.

Meanwhile, everyone's watching US inflation data coming out today; it could shake up currency markets even more if it leads to a Fed rate hike.