India Rupee Review
Flat before FOMC decision; RBI dlr sales offset crude rise
This story was originally published at 15:38 IST on 16 September 2026
Register to read our real-time news.Informist, Wednesday, Sept. 16, 2026
By Kabir Sharma
MUMBAI – The rupee was unchanged against the dollar on Wednesday as traders were cautious ahead of the outcome of the US Federal Open Market Committee's meeting, due later in the day, dealers said. The rupee remained under pressure throughout the day due to elevated crude oil prices, but this was offset by banks' dollar sales on behalf of the Reserve Bank of India, they said.
"We are all waiting for the rate hike tonight, it's almost certain now," a dealer at a state-owned bank said. "If the Fed springs a surprise and skips the hike, you can see it (dollar/rupee) going to 95.50, otherwise 96 is certain tomorrow," he said.
The rupee moved in a narrow range of 14 paise throughout the day and fell to an intraday low of 95.9775. The Indian unit ended the day at 95.9550 a dollar, flat compared to its previous close. More
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