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Rupee Drops 24 Paise to 94.25 Against Dollar in Early Trade Amid Oil Surge

Rupee Drops 24 Paise to 94.25 Against Dollar in Early Trade Amid Oil Surge

The Indian rupee continued its weak trend on 24 April 2026, falling 24 paise to 94.25 against the US dollar in early trade. This marks the fifth straight session of decline, as rising crude oil prices and Middle East tensions continue to pressure the currency.

The biggest trigger remains the sharp jump in Brent crude, which is trading around $106–$107 per barrel. Since India imports a large share of its oil needs, higher crude prices increase the import bill, worsen inflation concerns, and put direct pressure on the rupee.

Apart from oil, foreign fund outflows and a stronger US dollar have also added to the weakness. Traders expect the RBI to continue intervening to slow the fall, but if crude remains elevated, the rupee may test the 94.50–95.00 zone soon.

Do you think the rupee can weaken towards 95 if crude stays above $105?

This news is for information only and is not investment advice. Please do your own research before making investment decisions.