The Indian rupee fell past the 96-per-dollar mark on Tuesday to touch a two-month low, as rising oil prices deepened worries about the impact on the energy-importing economy.

The currency declined to 96.1450 against the dollar, down nearly 0.2 per cent on the day. It had opened at 96.03 and slipped to 96.13 in early trade, a 16-paise fall from Monday’s close of 95.97.

Forex traders blamed the combination of firm crude oil prices and rising US bond yields, which together are pulling portfolio flows out of emerging markets, including India. Brent crude rose 1.5 per cent to $107 a barrel on concerns over Middle East supply disruptions.

“We could see 96.50 in the coming days, and a clear break above 96.50 would open the door towards 98,” said Anindya Banerjee of Kotak Securities. He noted that strong August industrial output growth of 8 per cent remains a source of domestic strength.

The Reserve Bank’s interventions have kept the adjustment orderly, but analysts say crude, the rupee and global yields will remain the key factors to watch.