Indian rupee slips to ₹95.96, closes ₹95.76 after RBI action
The Indian rupee slipped to 95.96 against the US dollar on Thursday, mainly because foreign investors are pulling money out and oil prices keep climbing.
The Reserve Bank of India stepped in to help, so the rupee clawed back to close at 95.76 to the dollar, marginally weaker than its previous close of 95.70.
Still, that's nearly a 3% drop in FY27 so far after a near 11% fall in FY26.
Oil, inflation weigh on Indian rupee
Rising oil costs, inflation worries, and fewer US dollars coming into India are putting pressure on the rupee.
Even though there was talk about possible tax cuts for foreign investors (which gave the rupee a small boost), experts say these moves might not bring quick relief.
Anindya Banerjee from Kotak Securities summed it up: "The play is now at 98/$," and expects the rupee to cross 96/$ next week.