Image used for representational purposes only.
| Photo Credit: Getty Images/iStockphoto
The rupee settled higher by 5 paise at 93.93 (provisional) against the U.S. dollar on Monday (November 9, 2026), boosted by easing crude oil prices, stronger foreign fund inflows, and optimism regarding de-escalation in West Asia.
Forex traders said continued foreign inflows, stable crude, and a mild dollar offered tailwinds for the rupee. However, gains were capped by renewed greenback demand, geopolitical risks, and a rebound in energy prices.
In the interbank foreign exchange market, the rupee opened at around 93.85 against the greenback and witnessed an intraday high of 93.69 and a low of 94.11. At the end of the session, the rupee was quoted at 93.93 (provisional), higher by 5 paise from its previous close.
On Friday (November 6), the rupee surged 43 paise to close at 93.98 against the U.S. dollar.
“The Indian rupee registered a technical retracement, snapping a five-day winning streak amid state-run bank dollar buying ahead of a market holiday. The intraday correction followed morning gains catalysed by a soft dollar index, resilient foreign institutional inflows, and weaker crude oil pricing,” said Dilip Parmar — Senior Research Analyst, HDFC Securities.
Market participants are now closely monitoring Tuesday’s (November 10) upcoming U.S. inflation data for fresh directional cues. In the near term, spot USD/INR finds key support at 93.50 and resistance at 94.30, he added.
Over the weekend, encouraging news came from West Asia, as U.S. President Donald Trump indicated that fresh military strikes against Iran are highly unlikely if negotiations progress and both sides reach a strong agreement.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 101.83, lower by 0.45%.
Brent crude, the global oil benchmark, was trading 0.80% lower at $97.53 per barrel in futures trade.
“Overall, the near-term outlook remains moderately positive for the rupee, with USD/INR likely to remain sensitive to global dollar movements, crude oil trends and RBI intervention,” said Gaurav Garg, Head — Research, Lemonn.
Foreign institutional investors (FIIs) purchased equities worth ₹13,749.82 crore on Friday (November 6), according to exchange data.
Meanwhile, India’s forex reserves dropped $2.691 billion to $717.056 billion during the week ended October 30, the RBI said on Friday (November 6).
Published – November 09, 2026 05:11 pm IST
