Indian Rupee Weakens Against Dollar, USD/INR Near ₹96

The Indian rupee has weakened against the US dollar over the past week, with the exchange rate rising to around ₹95.99 per US dollar as of September 18.

Last Friday, September 11, USD/INR was around ₹95.55. The move to ₹95.99 represents an increase of approximately ₹0.44 per dollar, or 0.46%, meaning the rupee has weakened by about 0.46% against the dollar over the week. Market data also show USD/INR trading close to the ₹96 level during September 18.

USD/INR Weekly Movement

September 11: ₹95.55/USD
September 18: ₹95.99/USD
Weekly change: +₹0.44/USD
Rupee movement: ~0.46% weaker

The rupee's weekly decline comes after it had already weakened during the previous sessions. Reuters reported that the rupee recorded a 0.3% weekly decline, closing at ₹95.8750 on September 18.

Impact on Polymer Imports

For India's polymer market, a weaker rupee can increase the rupee cost of imported polymers, particularly when international resin prices and freight costs are already elevated.

With USD/INR approaching the ₹96 mark, importers and converters may face additional landed-cost pressure if the rupee remains weak.

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