In the interbank foreign‑exchange market the rupee opened at 95.58 per dollar, briefly rose to an intraday high of 95.57, slipped to a low of 95.76 and settled at 95.74, 12 paise weaker than its previous close.
The decline followed a modest gain the day before, when the rupee had appreciated 16 paise to close at 95.62 per dollar on September 22.
Analyst Anuj Choudhary of Mirae Asset Sharekhan said the rupee could enjoy a positive bias if diplomatic talks between the United States and Iran at the UN General Assembly improve global risk sentiment, and if lower crude prices persist, but warned that a strong dollar and any fresh U.S.–Iran tensions could cap upside, projecting a USD‑INR range of 95.50‑95.95.
The dollar index, which measures the greenback against a basket of six currencies, was up 0.27% at 100.87, while Brent crude futures rose 0.26% to $99.51 a barrel.
Indian equity markets posted gains, with the Sensex climbing 299.17 points to 74,828.25 and the Nifty rising 117.80 points to 23,446.80.
Foreign Institutional Investors sold equities worth ₹3,809.99 crore on a net basis on September 22, according to exchange data.