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Rupee slides most in two weeks as oil jumps and dollar support fades
Economy
Published on 24 April 2026
Oil tops 100 as dollar backing quietly unravels
The Indian rupee fell sharply for the first time in two weeks as oil prices climbed beyond $100 a barrel following US moves affecting Iran port access. Early gains from dollar inflows linked to banks unwinding arbitrage positions faded quickly, leaving the currency exposed to higher import-cost pressure.
- Rupee logged its steepest two-week fall on Monday
- Oil surged past $100 per barrel, raising import costs
- Dollar support weakened as banks unwound arbitrage bets
- Geopolitics around Iran ports added fuel to oil price rise
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times