Indian rupee has hit a rough patch, falling for five consecutive sessions. File
| Photo Credit: PTI
The rupee depreciated 11 paise to 94.27 against U.S. dollar in early trade on Monday (April 27, 2026) driven by persistent dollar demand and a broader shift toward safe-haven assets.
Forex traders said the Indian rupee has hit a rough patch, falling for five consecutive sessions, weighed down by a combination of factors such as the RBI loosening its grip on currency rules and rising oil prices caused by global tensions.
Moreover, investors are becoming cautious again, with foreign institutions pulling money out of the market after a brief period of buying amid rising geopolitical uncertainty.
At the interbank foreign exchange market the rupee opened at 94.25 against the U.S. dollar, then lost some ground and touched 94.27 against the U.S. dollar in initial trade, registering a fall of 11 paise over its previous close. On Friday (April 24, 2026), the rupee had settled at 94.16 against the American currency.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was down 0.09% at 98.44.
Brent crude, the global oil benchmark, was trading higher by 1.16% at $106.55 per barrel in futures trade.
A mix of softer economic signals and renewed, even if fragile, hopes of diplomacy pulled the dollar lower again, CR Forex Advisors MD Amit Pabari said, adding that for Rupee, on one hand, a softer dollar offers relief. On the other, uncertainty remains the dominant force.
Meanwhile, India’s forex reserves have crossed $703 billion as of April 17, reflecting a consistent build-up of buffers.
“For now, the rupee continues to lean toward gradual weakness. Uncertainty remains the dominant force, shaping both global flows and local reactions,” Mr. Pabari said.
He further noted that any dips are likely to be bought into, with the 92.80–93.20 zone acting as a strong support. On the upside, 93.50 to 94.50 is expected to define the near-term range.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 518.96 points or 0.68% higher at 77,183.17, while the broader Nifty was trading up 131.30 points or 0.55% at 24,029.25.
Foreign Institutional Investors offloaded equities worth ₹8,827.87 crore on Friday (April 24, 2026), according to exchange data.
Published – April 27, 2026 10:14 am IST
