The rupee fell 39 paise to 95.77 against the American currency in early trade on Monday (July 13, 2026) weighed down by elevated crude oil prices.

Forex traders said with Brent oil prices rising over $79 a barrel, the Indian rupee is expected to open weaker at 95.53 levels after Iran declared the Strait of Hormuz as closed.

At the interbank foreign exchange market, the rupee opened at 95.72, then touched 95.77 against the U.S. dollar, registering a loss of 39 paise from its previous close.

On Friday (July 10, 2026), the rupee rose 9 paise to settle at 95.38 against the U.S. dollar.

"The renewed fighting between the US and Iran revived fears of a major disruption to global Crude supplies," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 101.12, up 0.17%.

Meanwhile, Brent crude, the global oil benchmark, was trading higher by 4.05% at $79.09 per barrel in futures trade.

"Brent oil prices rose by more than 4% this Monday morning, rising to $79.25 per barrel as Iran announced the closure of the Strait of Hormuz. The latest rally came after Iran on Sunday expanded missile and drone attacks to Gulf states and the UAE in retaliation for U.S. strikes," Mr. Bhansali added.

On the domestic equity market front, Sensex tanked 616.15 points to 76,946.97 in early trade, while the Nifty dropped 190.50 points to 24,015.

Foreign institutional investors purchased equities worth ₹2,603.72 crore on a net basis on Friday (July 10, 2026), according to exchange data.

On the domestic macroeconomic front, the Reserve Bank of India on Friday (July 10, 2026) said the country's forex reserves jumped USD 7.26 billion to USD 674.193 billion during the week ended July 3.

In the previous reporting week, the forex kitty had dropped by U$5.654 billion to $666.933 billion.