The Indian rupee closed around ₹95.95 per US dollar on Wednesday, September 16, 2026, after the Reserve Bank of India (RBI) conducted dollar sales that helped limit further declines. The currency faced persistent pressure from strong dollar demand by importers, elevated crude oil prices, and a firm US dollar ahead of the Federal Reserve’s policy decision.
In the interbank market, the rupee opened near 95.89 and traded in a range of approximately 95.85–95.98 before settling at 95.95 (provisional). It had closed at 95.88 on Tuesday. The unit has remained under pressure in recent sessions, weakening from levels near 94.43 earlier in the month.
Forex traders noted that RBI intervention through state-run banks helped cap the rupee’s slide and kept it from breaching the 96 level more decisively during the session. Positive domestic equity markets provided some support, even as foreign fund outflows and higher US Treasury yields added to the downside pressure.
Analysts expect the USD/INR pair to trade in a range of roughly ₹95.75–₹96.20 in the near term, with the central bank likely to continue managing volatility. Rising crude oil prices have increased dollar demand from oil importers, contributing to the ongoing pressure on the local currency.