India Rupee Review
Falls as crude oil stays above $91/bbl; US-Iran deal eyed
This story was originally published at 16:00 IST on 18 August 2026
Register to read our real-time news.Informist, Tuesday, Aug. 18, 2026
By Kabir Sharma
MUMBAI – The rupee remained under pressure and fell against the dollar Tuesday as Brent crude oil price crossed $91 per barrel for the first time in two weeks after the US and Iran failed to renew their ceasefire deal, which expired Monday, dealers said. However, dollar sales by public-sector banks on behalf of the Reserve Bank of India limited the fall of the Indian currency, they said.
"The market was muted, there wasn't much momentum... Importers won't jump in just because crude has risen. There is still no clarity on the war front, so they are in a wait-and-watch mode," a dealer with a state-owned bank said.
The rupee settled at 95.6800 per dollar Tuesday, down from Monday's close of 95.6025 per dollar. The currency moved in a very tight range of 5 paise. Other Asian currencies were mixed against the dollar, with the South Korean won being the best performer. More
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