Rupee closes at 95.68 as Brent crude stays above $90; Sensex falls 493 points

The Indian rupee closed at 95.68 against the US dollar on 18 August 2026, down 7 paise from the previous close. The currency opened at the same level and traded in a narrow range of 95.64–95.69 through the session.

Forex traders attributed the pressure to elevated crude oil prices and lingering geopolitical uncertainty in West Asia. Brent crude remained above $90 a barrel after the temporary US-Iran ceasefire expired without extension and after President Trump ruled out a near-term renewal while making threats regarding Oman and the Strait of Hormuz.

Equity markets also declined. The Sensex fell 492.70 points to settle at 77,235.46. The Nifty dropped 132.75 points to 24,154.90, its sixth straight session of losses. Asian Paints, Infosys, HCL Tech, Bharti Airtel, TCS and Hindustan Unilever were among the major decliners. Axis Bank, Power Grid, Mahindra & Mahindra and Bajaj Finance closed higher.

Foreign institutional investors had sold equities worth ₹2,535.10 crore on a net basis the previous day.

Market participants said the rupee is likely to remain under mild pressure while oil prices stay elevated and the Hormuz situation unresolved.