Rupee drops 24 paise to 94.25 against U.S. dollar in early trade

The rupee stayed on a downward track for the fifth straight day, losing 24 paise to 94.25 against the U.S. dollar in early trade on Friday (April 24, 2026), weighed by volatile crude oil prices and an elevated U.S. dollar, with prospects of West Asia peace talks turning hazier.

Analysts said that despite a ceasefire in place between the United States and Iran, ship movement through the Strait of Hormuz remained uncertain after the U.S. military on Thursday (April 23, 2026) seized another Iranian oil tanker, intensifying the standoff and unsettling the fuel prices worldwide.