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2026.09.2104:02:24UTC+00Rupee Holds Gains as Oil Prices Ease

The Indian rupee hovered around 95.75 per dollar, extending gains from the previous session as softer oil prices, anticipated portfolio inflows, and continued RBI intervention helped contain downside pressure. Brent crude fell about 2% to $101.7 a barrel, as expectations of a diplomatic resolution to the Iran conflict and increased Saudi energy shipments eased supply concerns.
The fully subscribed $2.3 billion NSE IPO is also seen as a potential driver of foreign institutional inflows, while stronger capital flows and RBI measures to encourage overseas FX deposits and borrowings have boosted foreign exchange reserves to roughly $781 billion.
However, robust dollar demand from importers and still-elevated oil prices continue to pose headwinds. A stronger US dollar could further weigh on the rupee, particularly with Goldman Sachs now expecting the Federal Reserve to deliver another 25-basis-point rate hike in October.

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