INCOME TAX26 Sept 2026
Rupee gains from FCNR (B) boost reverse in September amid higher crude oil prices: RBI bulletin | Mint
The rupee's early September gains, helped by FCNR(B) foreign currency deposits, faded later in the month as crude oil prices climbed. This matters for importers and anyone planning foreign payments, as a weaker rupee raises costs. The rupee is down 0.7% this month and nearly 7% in 2026, at ₹95.82 per dollar. The Reserve Bank of India (RBI) says the fall may be temporary.
Key Statutory Highlights
- Inflows through schemes aimed at supporting the rupee topped $143.5 billion as of 18 September, with FCNR(B) deposits accounting for nearly $133 billion of that.
- The FCNR(B) scheme was closed one month before its original 30 September deadline.
- RBI Deputy Governor Poonam Gupta said the rupee's depreciation could be temporary, describing it as a possible overcorrection.
Actionable Advice for Taxpayers / Founders:If you pay for imports or send money abroad, review your foreign currency exposure now and check with your bank about staggering your payments or hedges. Treat the RBI's view as an outlook, not a promise that the rupee will recover.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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