The rupee depreciated 7 paise to 95.68 against the U.S. dollar in early trade on Tuesday (August 18, 2026), weighed down by elevated crude oil prices and persistent demand for greenback.

Forex traders said Brent crude near $91 per barrel increased oil-related dollar demand and the Reserve Bank’s earlier-than-expected closure of the concessional FCN (B) forex-swap facility raised concerns over future dollar inflows.

At the interbank foreign exchange, the rupee opened at 95.68, down 7 paise from its previous close. On Monday (August 17), the rupee depreciated 19 paise to close at 95.61 against the U.S. dollar.

The rupee opened lower as oil prices rose with the U.S. and Iran remaining at odds over the Strait of Hormuz and there was no progress on a peace deal, Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.63, down 0.01%.

Brent crude, the global oil benchmark, was trading higher by 0.52% at $91.34 per barrel in futures trade.

“Rupee looks vulnerable to the rising oil prices which have remained close to $90 and have now risen above $91 per barrel. RBI was protecting near 95.61 on Monday and may be protecting 95.75 today but will allow the depreciation to continue in view of the rising oil prices and consistent demand from oil companies,” Bhansali said.

On the domestic equity market front, Sensex was trading down 278.32 points to 77,450.64 in early trade; while the Nifty fell 57.65 points to 24,230.45.

Foreign institutional investors offloaded equities worth ₹2,535.10 crore on a net basis on Monday (August 17), according to exchange data.

The rupee depreciated 17 paise to 95.59 against the U.S. dollar in early trade on Monday (August 17, 2026), as the overall risk-reward appears tilted towards weakness.

Forex traders said investors’ sentiment turned cautious after the Reserve Bank of India on August 14 said that its swap facility for FCNR (B) deposits will be available only for deposits mobilised till August 31. Earlier, the cut-off date for Foreign Currency Non-Resident (Bank) or FCNR (B) deposits was September 30.

Under the FCNR (B) scheme, banks offer attractive interest rates to mobilise foreign currency deposits.

The Reserve Bank on Friday (August 14) said its concessional swap facility, introduced to encourage foreign currency inflows, has attracted USD 56.84 billion till August 13.

At the interbank foreign exchange, the rupee opened at 95.50, then fell to 95.59, down 17 paise from its previous close.

On Friday, the rupee appreciated 3 paise to close at 95.42 against the U.S. dollar.

“After attracting nearly $50 billion of forex inflows, the central bank has now announced that the facility will be available only for deposits mobilised until August 31, 2026. The support from these inflows remains significant, but the market will eventually begin looking beyond this temporary cushion,” CR Forex Advisors MD- Amit Pabari said.

While the rupee may remain supported in the near term, the overall risk-reward appears tilted towards weakness, Pabari said.

“Technically, the 95.20–95.30 zone is likely to act as an important support area. As long as this level holds, USD/INR could gradually move towards the 96.20–96.50 region in the coming days,” he said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.54, down 0.12%.

Brent crude, the global oil benchmark, was trading higher by 0.47% at $88.94 per barrel in futures trade.

On the domestic equity market front, Sensex declined 284.85 points to 77,717.05 in early trade, while the Nifty dipped 69.25 points to 24,297.05.

Foreign institutional investors purchased equities worth ₹508.12 crore on a net basis on Friday, according to exchange data.

India’s forex reserves jumped $14.136 billion to $707.002 billion during the week ended August 7, the Reserve Bank said on Friday. The overall kitty had jumped by $10.512 billion to $692.866 billion in the previous reporting week ended July 31.

The rupee rose 58 paise against the greenback to 94.60 in early trade on Monday (June 15, 2026) as global crude oil prices dropped sharply after U.S. President Donald Trump announced that the U.S. and Iran finalised a deal to end the war.

A strong start to the day at the domestic equity markets and a weaker U.S. dollar further drove the local unit, forex traders said.

At the interbank foreign exchange, the rupee opened at 94.70 against the U.S. dollar before rising further to 94.60, up 58 paise from its previous close.

The rupee surged 67 paise to close at 95.18 against the greenback on Friday.

The U.S. and Iran finalised a deal to end their 107-day war and open the Strait of Hormuz, the narrow waterway used to ferry one-fifth of the global oil supplies, on Friday after an in-person signing of the agreement in Switzerland.

U.S. President Donald Trump made the announcement on Truth Social on Sunday evening, easing pressure on the global energy markets, as officials said the peace agreement would be signed on June 19 in Switzerland.

“Rupee movement today will be significantly influenced by the peace deal between U.S. and Iran and the consequent crash in Brent crude. This means India’s balance of payments problem for FY27 is no longer a serious issue,” V K Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.

“Rupee started appreciating from the low of 96.96 to the dollar touched on May 20. Today the appreciating trend will continue and the rupee is likely to trade in the 94.80 to 94.60 range with scope for further appreciation in the coming days,” Vijayakumar added.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.53, down 0.22%.

Brent crude, the global oil benchmark, was trading lower by 4.66% at $83.26 per barrel in futures trade.

On the domestic equity market front, Sensex surged 1,112.70 points to 76,648.74 in early trade, while Nifty rose sharply by 335.55 points to 23,956.40.

Foreign institutional investors offloaded equities worth ₹1,082.18 crore on a net basis on Friday, according to exchange data.

India’s forex reserves dropped $711 million to $681.610 billion during the week ended June 5 due to a sharp decline in foreign currency reserves, the RBI said on Friday.

The rupee depreciated 32 paise to an all-time low of 95.20 against the U.S. dollar in early trade on Thursday (April 30, 2026), weighed down by elevated Brent crude oil prices, hovering around $122 per barrel, and strong American currency.

Forex traders said the USD/INR pair may see further downside, as rising crude oil prices are likely to sharply impact India’s import costs, while concerns over potential wider conflict in West Asia are fuelling investor anxiety.

Meanwhile, the U.S. dollar added to gains after the US FED Reserve kept rates unchanged. Safe-haven demand was also boosted by another diplomatic setback between Washington and Tehran.

At the interbank foreign exchange market, the rupee opened at 95.01 against the U.S. dollar, then lost some ground and touched an all-time low of 95.20 against the U.S. dollar in initial trade, registering a fall of 32 paise over its previous close.

On Wednesday (April 29), the rupee depreciated 20 paise to close at an all-time low of 94.88 against the U.S. dollar.

“The main effect on the rupee has been from the rising oil prices, which touched $120 per barrel and looked headed for further upside as the U.S. continues with its blockade of Iranian ports, while Iran does not allow any ship/tanker to pass through the Strait of Hormuz,” said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.01% higher at 98.96.

Brent crude, the global oil benchmark, was trading higher by 3.16% at $121.76 per barrel in futures trade.

On the domestic equity market front, Sensex tumbled 821.79 points to 76,674.57 in early trade, while the Nifty dived 287.3 points to 23,890.35.

Foreign Institutional Investors offloaded equities worth ₹2,468.42 crore on Wednesday, according to exchange data.

The rupee traded almost flat at 88.78 in the early session on Friday (October 10, 2025), hovering near all-time lows against the U.S. dollar due to a stronger greenback in the overseas markets.

Forex traders said the rupee is expected to trade in a narrow range with a chance of breaking the all-time closing low level of 88.80 in the absence of RBI intervention.

At the interbank foreign exchange market, the rupee opened lower at 88.80 but soon recovered to touch 88.78 against the U.S. dollar, registering a gain of 1 paise from its previous close. On Thursday, the rupee closed at 88.79 against the greenback.

Traders said a strong U.S. dollar and importer demand weighed on the rupee. However, strength in the domestic markets and overnight decline in crude oil prices cushioned the downside.

“The RBI is expected to keep a close tab on the rupee with its watchful eyes in ensuring that for the present it does not cross 88.80,” said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP.

Meanwhile, the safe-haven demand for dollars continues keeping the dollar well bid, he noted.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.22% lower at 99.32.

Brent crude, the global oil benchmark, was trading lower by 0.18% at $65.10 per barrel in futures trading.

On the domestic equity market front, the benchmark sensitive index Sensex advanced 188.07 points to 82,360.17 in early trade, while the Nifty climbed 50.65 points to 25,232.45.

Meanwhile, Foreign Institutional Investors bought equities worth ₹1,308.16 crore on Thursday, according to exchange data.