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fxJul 16, 2026, 5:27 AM

Indian Rupee Declines to 96.32 Against USD as Oil Prices Weigh

The Indian Rupee opened lower against the US Dollar on Thursday, extending its losing streak for a third consecutive day as elevated crude oil prices stoked concerns over higher import costs.

USDINR

The Indian Rupee (INR) weakened further against the US Dollar (USD) on Thursday, with the USD/INR pair rising to near 96.32. This marks the third straight session of declines for the rupee.

Elevated crude oil prices remain the key pressure point, as India is a major oil importer. Higher oil costs renew fears of increased foreign currency outflows and inflationary pressures, weighing on the rupee's outlook.

Source: FXStreet Forex News