{
  "id": 10569707,
  "title": "Rupee slips toward 96 vs US dollar as crude, yields and stocks weigh on currency",
  "url": "https://urgent.news/2026/09/28/rupee-slips-toward-96-vs-us-dollar-as-crude-yields-and-stocks-weigh",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-28T13:48:16.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/forex/forex-news/rupee-slips-toward-96-vs-us-dollar-as-crude-yields-and-stocks-weigh-on-currency/articleshow/134544621.cms"
  },
  "original_language": "en",
  "account": "Kolkata experienced a 0.2% weakening of the rupee against the US dollar on Monday, as equities slumped to their lowest point this fiscal year. This decline was exacerbated by surging US bond yields and rising crude oil prices, which impacted currencies and growth assets throughout the Asia Pacific region. Despite the Reserve Bank of India (RBI) intervening to curb the currency's decline, the rupee reached a low of 96.34 in the offshore non-deliverable forward (NDF) market, putting downward pressure on the spot market trade in Mumbai. Forex consultant KN Dey reported that the spot rupee reached 95.99 intra-day, marking the weakest level in over a week. Traders noted that a Reserve Bank of India intervention had prevented the rupee from falling below the 96 mark. Economists consulted by ET projected a potential further depreciation of the rupee this fiscal year, citing the impact of high oil prices and elevated US bond yields, which have heightened inflation concerns. Meanwhile, Brent crude prices surged to nearly $108 a barrel on Monday, amid Washington's rejection of Iran's conditional proposal to reopen the Strait of Hormuz, which is the primary pathway for Middle East supplies reaching Indian refiners. The global supply situation worsened as US President Donald Trump suggested that a potential peace deal with Iran might only materialize after the US midterm elections in November. The rupee opened Monday at 95.88 against the dollar, slightly higher than its Friday close of 95.81, amid a weaker global outlook. The forex market saw increased activity as a three-day bank strike call was postponed. Additionally, Monday marked the settlement day for September forex contracts, with forward premia reaching 4% for three months, 3.8% for six months, and remaining at 3.5% for a year.",
  "summary": "The rupee weakened 0.2% to 95.9825 against the dollar, pressured by surging crude oil prices, US bond yields and a sharp equity sell-off. RBI intervention likely limited losses, while concerns over inflation and India’s high oil import dependence weighed on sentiment.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}