The Hindu·3 min read·medium
Rupee tanks 59 paise to close at 95.55 against U.S. dollar
P
PTI
✦AI Summary
The Indian Rupee fell 59 paise to 95.55 against the U.S. dollar following military strikes between the U.S. and Iran in the Strait of Hormuz. The geopolitical tension caused a spike in global crude oil prices and a significant downturn in domestic equity markets.
The rupee tanked 59 paise to settle at 95.55 (provisional) against the US dollar on Wednesday (July 8, 2026), as the U.S. launched fresh strikes on Iran after Tehran struck three ships in the Strait of Hormuz, pushing up crude oil prices and strengthening the dollar.
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