The rupee appreciated 19 paise to close at 95.80 (provisional) against the U.S. dollar on Friday (September 25, 2026), holding above the 96-mark, on improved global risk sentiment and possible intervention by the Reserve Bank.

Forex traders said gains in the rupee were capped by U.S. dollar demand from local importers, high crude prices and a stronger greenback driven by hawkish Federal Reserve signals.

At the interbank foreign exchange market, the rupee opened at 95.92 against the American currency. During the day, the local unit slipped to an intraday low of 95.94, but recovered lost ground to close at 95.80 (provisional), a 19 paise rise from its previous close.

On Thursday (September 24), the rupee weakened by 26 paise to settle at 95.99 against the U.S. dollar.

“We expect the rupee to trade with a slight positive bias on improved global risk sentiment amid optimism over the proposed U.S.-Iran phased deal to reopen the Strait of Hormuz and the end of the U.S. blockade.

“Falling crude oil prices and a weak dollar may support the rupee at lower levels. However, any fresh escalations may pressure the rupee at higher levels. Traders may take cues from durable goods orders data from the U.S.,” said Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan.

According to Mr. Choudhary, the USD/INR spot price is expected to trade in a range of 95.60 to 96.10. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.18% lower at 101.10.

Brent crude futures, the global oil benchmark, were trading lower by 1.08 per cent at $105.45 per barrel.

The RBI is expected to step in as the rupee weakens toward 96, traders said, adding that India’s economic adjustment remains controlled, backed by foreign exchange reserves close to $781 billion and strategic policies that have cushioned the domestic economy from global energy price shocks.

On the domestic equity market front, Sensex rose 315.20 points to settle at 73,895.74, and Nifty settled 77.40 points higher at 23,140.50.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,027.36 crore on a net basis on Thursday (September 24), according to exchange data.

The rupee depreciated 27 paise to 95.79 against the U.S. dollar in early trade on Friday (September 11, 2026) driven by elevated crude oil prices and foreign portfolio outflows.

Forex traders said while record foreign exchange reserves, active Reserve Bank intervention, and robust domestic growth provide crucial support, rising global yields and crude trading above $108 continue to weigh heavily on the country’s import bill.

At the interbank foreign exchange market, the rupee opened at 95.70 against the U.S. dollar, then lost ground to touch 95.79, registering a loss of 27 paise from its previous close.

On Thursday (September 10, 2026), the rupee depreciated 44 paise to close at 95.52 against the U.S. dollar.

“For the rupee, the pressure continues. It remains in an uptrend beyond 95 on the back of costly oil and foreign portfolio outflows, and we could see 96, with 95 now acting as support,” said Anindya Banerjee, Head of Commodity and Currency Research, Kotak Securities.

The offsetting strengths are real — record foreign exchange reserves, the Reserve Bank’s active presence in the market, and strong domestic growth at 7.8% — but with crude above $100 and global yields rising, the import bill is the dominant force in the near term, Banerjee said.

Investors will track U.S. and Indian inflation data for further cues.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.16, higher by 0.12%.

Brent crude, the global oil benchmark, was trading marginally lower by 0.76% at $108.45 per barrel in futures trade, amid escalating U.S.-Iran tensions and fears of disruption to oil flows through the Strait of Hormuz.

On the domestic equities market front, the Sensex slumped 628.24 points to 74,257.69 in early trade, while the Nifty dropped 221.20 points to 23,255.10.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹438.24 crore on a net basis on Thursday (September 10, 2026), according to exchange data.

The rupee declined 13 paise to settle at 95.43 (provisional) against the U.S. dollar on Tuesday (August 11, 2026), tracking a sharp rise in global crude oil prices amid geopolitical uncertainties.

However, recent foreign capital inflows provided some support to the local unit, forex traders said.

At the interbank foreign exchange market, the rupee opened at 95.38 against the U.S. dollar and traded in a very narrow range of 95.37-95.45. Eventually, it settled at 95.43 (provisional), down 13 paise from its previous close.

The rupee declined 13 paise to settle at 95.30 against the U.S. dollar on Monday (August 10, 2026).

“The rupee declined on a surge in crude oil prices and rising U.S. Treasury yields. Uncertainty over the deal between the U.S. and Iran also weighed on the rupee,” Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan, said.

“We expect the rupee to trade with a slight negative bias. However, any intervention by the RBI may support the rupee at lower levels. Traders may remain cautious ahead of U.S. inflation data this week,” he said, adding that the USD-INR spot price is expected to trade in the range of ₹95.15-95.80.

Fitch Ratings on Tuesday (August 11, 2026) affirmed India’s sovereign rating at ‘BBB-‘ with a stable outlook, saying the domestic economy remains strong despite headwinds from the energy shock arising from the West Asia crisis.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.86, up 0.06%.

Brent crude, the global oil benchmark, jumped 2.45% to $89.87 per barrel in futures trade.

On the domestic equity market front, Sensex declined 388.19 points to settle at 78,154.25, and the Nifty fell 112.10 points to 24,471.70.

Foreign institutional investors purchased equities worth ₹1,974.76 crore on a net basis on Monday (August 10, 2026), according to exchange data.

The rupee declined by 11 paise to settle at 95.28 (provisional) against the U.S. dollar on Monday (August 10, 2026) amid a firm greenback and a rise in global crude oil prices.

Lack of any breakthrough in talks in West Asia put further pressure on the local unit, while FII inflows provided some support, forex traders said.

At the interbank foreign exchange market, the rupee opened at 95.18 and traded in a narrow range of 95.18-95.31 during the day. The local unit settled at 95.28 (provisional), down 11 paise from its previous close of 95.17 on Friday (August 7, 2026).

“Rupee marginally dipped from last Friday’s [August 7, 2026] closing of 95.17. The slight weakness was due to the rise in Brent crude above $84 and the consequent expected impact on trade deficit. However, the FPI inflows, which have turned positive in July and are increasing in August, too, though in small quantities, are providing support to the rupee,” V.K. Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.

“The rupee declined on Monday [August 10, 2026] on uncertainty over a deal between the U.S. and Iran and overnight surge in crude oil prices. U.S. dollar strengthened from lower levels. However, positive domestic markets cushioned the downside,” Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan, said.

“Traders may remain cautious ahead of the U.S. inflation data this week. USD INR spot price is expected to trade in a range of ₹95-95.60,” he said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.66, up 0.13%.

Brent crude, the global oil benchmark, was trading higher by 0.96% at $84.35 per barrel in futures trade.

On the domestic equity market front, Sensex ended 43.27 points, or 0.06%, up at 78,542.44, while Nifty, too, saw a marginal rise by 13.15 points, or 0.05%, to 24,583.80.

Foreign institutional investors purchased equities worth ₹480.24 crore on a net basis on Friday (August 7, 2026), according to exchange data.

The RBI data released on Friday (August 7, 2026) showed that the country’s forex reserves jumped by ₹10.512 billion to ₹692.866 billion during the week ended July 31.

The rupee gained 13 paise to settle at 95.15 (provisional) against the U.S. dollar on Wednesday (August 5, 2026), after the Reserve Bank of India kept the key policy rate unchanged for the third time in a row in FY27 amid the West Asia crisis.

Forex traders said investor sentiments were supported by an overnight decline in crude oil prices and a weakness of the American currency in the overseas market.

Moreover, a decline in U.S. treasury yields also supported the rupee.

At the interbank foreign exchange, the rupee opened at 94.90 against the greenback and traded in a tight range of 94.89-95.25 during the session. It eventually settled at 95.15, higher by 13 paise from its previous close.

On Tuesday (August 4, 2026), the rupee appreciated 9 paise to close at 95.28 against the American currency.

“We expect the rupee to trade with a slight positive bias on improved global risk sentiments amid de-escalation of tensions between the U.S. and Iran. The U.S. said that a deal with Iran could be reached soon. Traders may take cues from ISM services PMI data from the US. USD-INR spot price is expected to trade in a range of 94.80 to 95.50,” said Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan.

The six-member Monetary Policy Committee, headed by Governor Sanjay Malhotra, unanimously voted to keep the repo rate unchanged at 5.25% and retained its “neutral” policy stance.

The RBI relied on measures announced at its previous policy meeting to attract capital inflows and support the rupee.

Speaking to reporters at the customary briefing after the monetary policy review, Mr. Malhotra said the rupee has not appreciated as intended despite the high flows from foreign shores.

He further noted that the strengthening in the rupee is possible if geopolitical tensions de-escalate. It will be the RBI’s endeavour that the trajectory for the rupee remains orderly, he added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.82, down 0.03%.

Brent crude, the global oil benchmark, was trading higher by 1.75% at $80.75 per barrel in futures trade, but was down sharply from above $100 per barrel levels seen in July.

On the domestic equity market front, Sensex climbed 152.05 points to settle at 78,581, while the Nifty closed marginally up by 9.75 points to 24,624.65.

Foreign institutional investors purchased equities worth ₹2,446.47 crore on a net basis on Tuesday (August 4, 2026), according to exchange data.

The rupee opened on a flat note and gained 3 paise to 95.34 against the U.S. dollar in early trade on Tuesday (August 4, 2026), as support from the broad-based weakness in the U.S. Dollar Index amid improving global risk sentiment was negated by dollar demand from importers.

Forex traders said lower oil prices and a softer U.S. dollar outweighed importer demand for dollars, with market participants now turning their attention to the upcoming RBI MPC decision and key U.S. economic data later this week for further direction.

At the interbank foreign exchange market the rupee opened at 95.35, then touched 95.34, registering a gain of 3 paise from its previous close.

On Monday (August 3, 2026), the rupee closed at 95.47 against the American currency.

The rupee opened on a flat note and may remain in the range of 95 to 95.50 as oil and dollar index also remain very stable while the market awaits for the RBI Monetary policy decision on Wednesday (August 5, 2026), said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.

A broad-based weakness in the U.S. Dollar Index, improving global risk sentiment, and continued foreign portfolio inflows into Indian equities also supported the rupee. In addition, the Reserve Bank of India (RBI) was reported to have remained active in the foreign exchange market (it received premiums), helping to smooth volatility and reinforce positive sentiment, he said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.99, marginally up by 0.09%.

The dollar index slipped below the psychologically important 100 level. The dollar remained under pressure as investors continued to price in a more accommodative Federal Reserve outlook following recent softer U.S. inflation data, Mr. Bhansali added.

Brent crude, the global oil benchmark, was trading higher by 1.15% at $84.73 per barrel in futures trade, but a sharp correction from the highs above $100 per barrel seen in July.

The broad decline in Brent prices was driven by easing geopolitical tensions in the Middle East, which reduced concerns about supply disruptions, while expectations of higher OPEC+ production and adequate global supply added to the bearish sentiment, Bhansali said.

On the domestic equity market front, the Sensex climbed 97 points to 78,736.20 in early trade; Nifty down 173.95 points to 24,600.35.

Foreign Institutional Investors purchased equities worth ₹922.26 crore on a net basis on Monday (August 4, 2026), according to exchange data.

The rupee appreciated 48 paise to close at 94.95 (provisional) against the U.S. dollar on Tuesday (July 7, 2026), on improved global risk sentiments as higher traffic flows through the Strait of Hormuz reduced supply uncertainties.

Forex traders said market sentiment was also buoyed after Saudi Arabia slashed August crude oil prices for Asia by $11 per barrel.

Moreover, softness in Brent oil prices will ease inflationary pressures for India, the world’s third-largest oil importer, market analysts said.

At the interbank foreign exchange market, the rupee opened at 95.33 and traded in the range of 94.94-95.37 in intraday trade. At the end of Tuesday’s (July 7, 2026) trading session, the rupee was quoted at 94.95 (provisional), higher by 48 paise over its previous close.

On Monday (July 6, 2026), the rupee depreciated 25 paise to close at 95.43 against the US dollar.

“The Indian rupee gained sharply today on improved global risk sentiments and a weak dollar. Softness in crude oil prices too supported the rupee as it is likely to ease inflationary pressure. Disappointing ISM services PMI too supported the rupee,” said Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan.

Mr. Choudhary further noted that “improved global risk sentiments on improved traffic in the Strait of Hormuz also supported the rupee. However, hedging demand from importers may cap sharp upside”.

“Traders may take cues from weekly employment change data from the U.S. USD-INR spot price is expected to trade in a range of 94.60 to 95.30.”

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 100.96, up 0.11%.

Brent crude, the global oil benchmark, was trading higher by 1.19% at $72.85 per barrel in futures trade.

On the domestic equity market front, Sensex declined 104.35 points to settle at 78,180.72, while the Nifty fell 31.65 points to close at 24,398.70.

Foreign institutional investors purchased equities worth ₹243.03 crore on a net basis on Monday (July 6, 2026), according to exchange data.

The Rupee fell 10 paise to 95.28 against the U.S. dollar in early trade on Monday (June 29,2026) weighed down by the broad strength of the American currency in the overseas market.

Forex traders said whenever fresh foreign inflows enter the country, the Central bank is likely to use the opportunity to rebuild its reserve position rather than allowing the Rupee to strengthen too much.

Moreover, uncertainty prevailed over the progress of U.S.-Iran peace talks keeping a geopolitical risk premium in the market.

At the interbank foreign exchange market, the Rupee opened at 95.25, then touched 95.28 against the U.S. dollar, registering a loss of 10 paise from its previous close. On Friday (July 3, 2026) the Rupee appreciated 17 paise to close at 95.18 against the U.S. dollar.

“The message from last week is simple. When the Rupee cannot rally on good news like falling oil and a softer dollar, it tells you the underlying mood is fragile. Any fresh negative trigger could push USD-INR towards the 95.80 to 96.00 zone, while support holds near 94.80 to 95.00,” CR Forex Advisors MD Amit Pabari said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 100.95, up 0.10%.

“The dollar index eased to around 100.90 as weak U.S. jobs data continued to weigh on it. Normally, a softer dollar is exactly what the Rupee needs to catch a breath. This time, it simply did not happen, and that is the part worth watching closely this week,” Mr. Pabari added.

Brent crude, the global oil benchmark, was trading lower by 0.58% at $71.70 per barrel in futures trade. On the domestic equity market front, Sensex climbed 281.40 points to 78,051.03 in early trade, while the Nifty rallied 74.60 points to 24,347.05.

Foreign institutional investors turned net buyers, purchasing equities worth ₹1,355.33 crore on a net basis on Friday (July 3,2026), according to exchange data.

India’s forex reserves dropped $5.654 billion to $666.933 billion during the week ended June 26, the RBI said on Friday (July 3,2026). In the previous reporting week, the kitty jumped $963 million to $672.587 billion.

The kitty had expanded to an all-time high of $728.494 billion during the week ended February 27 this year before the onset of the West Asia conflict, which led to several weeks of a drop as the rupee came under pressure and the RBI had to intervene in the forex market through dollar sales.

The rupee appreciated 12 paise to 89.51 against the U.S. dollar in early trade on Wednesday (December 24, 2025), supported by the RBI’s major liquidity announcement and the weakness of the American currency in the overseas market.

Forex traders said the rupee started the day on a stronger note after the RBI announced sufficient liquidity for the markets to the extent of approx. ₹3 lakh crore, which will also allow the RBI to keep rupee weakness under control.

At the interbank foreign exchange market, the rupee opened at 89.56 against the U.S. dollar, then gained some ground and touched 89.51 against the U.S. dollar, registering a gain of 12 paise over its previous close.

In the initial trade, it also touched 89.65 against the American currency. On Tuesday (December 23, 2025), the rupee settled at 89.63 against the U.S. dollar.

“The dollar index was softer after the strong GDP growth of 4.3% and with Asian currencies generally stronger, the rupee has managed to claw back,” said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.

Mr. Bhansali further added that, “Rupee is likely to remain broadly in the range of 89-90 while RBI protects both sides as it attempts to cut its short dollar positions.”

“The RBI was seen actively managing the rupee to prevent excessive volatility and keep USD/INR from breaking 90 levels while it also bought dollars from the spot market to prevent the appreciation,” he added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.07% lower at 97.87.

Brent crude, the global oil benchmark, was trading higher by 0.02% at $62.39 per barrel in futures trade.

On the domestic equity market front, the 30-share benchmark index Sensex rose 63.82 points to 85,588.66, while the Nifty was up 32.80 points to 26,209. 95.

Foreign Institutional Investors offloaded equities worth ₹1,794.80 crore on Tuesday (December 23, 2025), according to exchange data.

The Reserve Bank of India on Tuesday (December 23, 2025) said it will purchase government securities worth ₹2 lakh crore and conduct a $10 billion buy/sell dollar-rupee swap auction to inject liquidity in the banking system.

The latest announcement comes days after the RBI conducted ₹1 lakh crore OMO purchase auctions of Government of India securities and USD/INR Buy/Sell Swap auction of $5 billion for a tenor of three years.

The rupee depreciated 16 paise to 90.11 against the U.S. dollar in early trade on Monday (December 8, 2025), weighed down by elevated crude oil prices and persistent foreign fund outflows.

Forex traders said strong dollar demand from corporates, importers and foreign portfolio investors pressurised the rupee.

At the interbank foreign exchange, the rupee opened at 90.07 against the U.S. dollar then dropped to 90.11, down 16 paise from its previous close.

On Friday (December 5, 2025), the rupee settled at 89.95 against the U.S. dollar, after the Reserve Bank of India cut the key policy interest rate for the first time in six months.

Forex traders said investors’ focus has now shifted to the Fed’s policy outcome on December 9–10. Markets are placing nearly a 90% probability on a rate cut next week.

Meanwhile, India and the United States will commence three-day talks on the first phase of their proposed bilateral trade agreement here from December 10.

“The US team is in India on 10th December and simultaneously the EU team is also in India to meet the Commerce Minister on trade negotiations and finalising an FTA. We await for positive outcomes on both counts. ” said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.

Mr. Bhansali further noted that, FPIs continue to remain sellers despite the India equities going up. The dollar index is range bound, Asian currencies are range bound, so there are no specific cues from any front.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.11% lower at 98.88. Brent crude, the global oil benchmark, was trading higher by 0.17 cent at $63.85 per barrel in futures trade.

On the domestic equity market front, the benchmark sensitive index Sensex declined 215.73 points to 85,741.24 in early trade, while the Nifty was down 64.85 points to 26,121.60.

Foreign Institutional Investors sold equities worth ₹438.90 crore on Friday (December 5, 2025), according to exchange data.