The rupee depreciated 10 paise to close at 94.95 (provisional) against the U.S. dollar on Monday (June 01, 2026), amid renewed geopolitical tensions between the U.S. and Iran and surge in crude oil prices. Forex traders said the strength of the American currency in the overseas market and Israel-Lebanon tensions also deteriorated global risk sentiments.

At the interbank foreign exchange market, the rupee opened at 94.93 against the U.S. dollar, then touched an intraday high of 94.73 and a low of 95.03 during the day. At the end of Monday’s (June 01, 2026) trading session, the rupee was quoted at 94.95 (provisional), down 10 paise from its previous close.

On Friday (May 31, 2026), the rupee appreciated 73 paise to close at 94.85 against the U.S. dollar on suspected interventions by the RBI. “We expect the rupee to trade with a slight negative bias on renewed geopolitical tensions and an overnight surge in crude oil prices. A strong dollar and rising U.S. treasury yields may also weigh on the rupee,” said Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan. Mr. Choudhary further noted that any continued peace talks may prevent a sharp fall. “USDINR spot price is expected to trade in a range of 94.60 to 95.30,” he added.

Forex traders said attention has now shifted toward the upcoming RBI Monetary Policy Committee meeting scheduled for June 3-5. The six-member Monetary Policy Committee (MPC), headed by RBI Governor Sanjay Malhotra, will announce its decision on June 5.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.04, up 0.10%. Brent crude, the global oil benchmark, was trading higher by 3.47% at $94.28 per barrel in futures trade.

On the domestic equity market front, Sensex dropped 508.40 points to settle at 74,267.34, while the Nifty was down 165.15 points to 23,382.60. Foreign institutional investors offloaded equities worth ₹21,105.86 crore on a net basis on Friday (May 29, 2026), according to exchange data.

According to the RBI’s latest data released on Friday (May 29, 2026), India’s forex reserves dropped by $7.511 billion to $681.384 billion during the week ended May 22. In the previous week, the kitty had dropped $8.094 billion to $688.894 billion. According to government data released on Monday (June 1, 2026), gross GST collections rose 3.2% to over ₹1.94 lakh crore in May on higher supplies of goods and services, as well as collection from imports.

Meanwhile, U.S. President Donald Trump has said the U.S. and Iran are close to a “very good deal,” but if Washington does not get what it wants, then it will “end it in a different way.” Mr. Trump said the Iranians are “good negotiators,” but argued that the United States now holds “all the cards” because Iran has been “militarily defeated.”

The rupee settled on a flat note, higher by 2 paise at 95.68 (provisional) against the U.S. dollar on Wednesday (May 27, 2026), as renewed tensions between the U.S. and Iran and delays in negotiations kept investors cautious.

Forex traders said a strong American currency and weak domestic markets also pressured the rupee. Attention has shifted toward the upcoming Reserve Bank of India (RBI) Monetary Policy Committee meeting scheduled between June 3 and 5, they said.

At the interbank foreign exchange market, the rupee opened at 95.60 against the U.S. dollar, and touched an intra-day low of 95.79 against the American currency.

At the end of Wednesday’s (May 27, 2026) close, the rupee was quoted at 95.68 (provisional), down 2 paise from its previous closing.

On Tuesday (May 26, 2026), the rupee depreciated 44 paise to close at 95.70 against the U.S. dollar.

“We expect the rupee to trade with a negative bias on renewed tensions between the U.S. and Iran and concerns over military action in the Middle East [West Asia].”

“However, softening of crude oil prices may support the rupee at lower levels. USDINR spot price is expected to trade in a range of 95.50 to 96.10,” said Anuj Choudhary, research analyst at Mirae Asset ShareKhan.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.07, down 0.10%.

“Uncertainty around the Strait of Hormuz is keeping U.S. Dollar Index (DXY) well supported via safe haven demand,” said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors Limited Liability Partnership (LLP).

Brent crude, the global oil benchmark, was trading down 3.02% at $96.57 per barrel in futures trade.

On the domestic equity market front, Sensex declined 141.90 points to settle at 75,867.80, while the Nifty dipped 6.55 points to 23,907.15.

Foreign institutional investors offloaded equities worth ₹2,407.87 crore on Tuesday (May 26, 2026), according to exchange data.

The rupee appreciated 40 paise to 95.20 against U.S. dollar in early trade on Monday (May 25. 2026) on optimism that the U.S. and Iran were moving close to a peace deal even though they remained at odds over key issues, including blockades on the Strait of Hormuz.

Forex traders said the rupee opened on a positive note as the U.S. and Iran have “largely negotiated” a peace pact to end the nearly three-month war.

U.S. President Donald Trump has told the negotiators “not to rush into a deal” and that “both sides must take their time and get it right”.

Moreover, U.S. Secretary of State Marco Rubio said the U.S. and India are on the verge of finalising an interim trade agreement after progress in negotiations with the U.S. Trade Representative to visit India very soon.

At the interbank foreign exchange market, the rupee opened at 95.36 against the U.S. dollar, then touched 95.20 in early trade, up 40 paise from its previous close.

On Friday (May 22, 2026) , the rupee rose 75 paise to close at 95.60 against the U.S. dollar.

“The trade deal will be beneficial to both the U.S. and India,” said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.

Today being a U.S. holiday the cash demand will be lower but month-end demand could crop up while the RBI will be present to keep a tab over the dollar, Mr. Bhansali added.

“India and the U.S. are poised to soon firm up the much-awaited trade agreement that will be both “beneficial” and “sustainable” and will advance the mutual interests of both nations”, Mr. Rubio said on Sunday (May 24, 2026), asserting that the overall bilateral ties are set to witness an upward trajectory.

Mr. Rubio, currently on a four-day visit to India, made the remarks after holding wide-ranging talks with External Affairs Minister S. Jaishankar that focused on boosting two-way cooperation in areas of trade, critical minerals, energy and defence.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.04, down 0.20%.

Brent crude, the global oil benchmark, was trading down 5.43% $97.92 per barrel in futures trade.

On the domestic equity market front, Sensex jumped 908.98 points to 76,317.85 in early trade, while the Nifty surged 262.65 points to 23,977.70.

Foreign institutional investors offloaded equities worth ₹4,440.47 crore on a net basis on Friday (May 22, 2026), according to exchange data.

Meanwhile, the country’s forex reserves dropped $8.094 billion to $688.894 billion during the week ended May 15, the Reserve Bank of India (RBI) said on Friday (May 22, 2026). In the preceding week ending May 8, the overall reserves had jumped by $6.295 billion to $696.988 billion.

The rupee rose 18 paise to 96.18 against the U.S. dollar in early trade on Friday (May 22, 2026), on slight cooling in crude oil prices, tentative signs of easing geopolitical tensions, and active RBI intervention in the market.

Forex traders said markets found some comfort after comments from U.S. Secretary of State Marco Rubio hinted that diplomatic talks linked to the Iran situation were moving in a constructive direction.

Although Mr. Rubio warned that he does not want to be “overly optimistic,” the comments were enough to calm markets temporarily.

As a result, Brent crude oil cooled near the $104 mark, reducing immediate pressure on the rupee, traders said.

At the interbank foreign exchange market, the rupee opened at 96.30 against the U.S. dollar, then touched 96.18 in early trade, up 18 paise from its previous close.

On Thursday (May 21, 2026), the rupee rebounded 50 paise from its all-time closing low to settle at 96.36 against the U.S. dollar.

“Another major reason behind the rupee’s recovery is growing confidence around RBI’s planned $5 billion buy-sell swap auction on 26th May. The move is expected to inject more rupee liquidity into the banking system and improve RBI’s ability to manage excessive currency volatility,” CR Forex Advisors MD Amit Pabari said.

This reinforces market confidence that the central bank remains prepared to actively smooth volatility if global conditions deteriorate further, Mr. Pabari added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.24, down 0.01%.

Brent crude, the global oil benchmark, was trading up 1.59% $104.21 per barrel in futures trade.

“Any supportive measures like RBI swaps or positive deal flows could strengthen the rupee, while absence of such triggers may gradually push the pair towards 97.00 levels,” Mr. Pabari said, adding that geopolitical tensions remain the key risk factor. A sustained close below 94.80 would be needed to signal a broader trend reversal in the rupee, he said.

On the domestic equity market front, Sensex climbed 332.39 points to 75,507.09 in early trade, while the Nifty was trading up 84.60 points to 23,747.40.

Foreign Institutional Investors offloaded equities worth ₹1,891.21 crore on a net basis on Thursday (May 21, 2026), according to exchange data.

Meanwhile, Commerce and Industry Minister Piyush Goyal on Thursday (May 21, 2026) said the government is considering several steps to contain the widening Current Account Deficit (CAD) amid a weakening rupee and widening trade deficit.

The rupee opened with a negative bias amid a strong dollar and rising U.S. treasury yields and depreciated 18 paise to 96.38 against the U.S. dollar as market sentiments continue to dampen amid simmering tensions between the U.S. and Iran.

Forex traders said rupee remains vulnerable to the rise in crude oil prices as also the closure of the Strait of Hormuz hampering its exports and imports to the Gulf countries.

At the interbank foreign exchange market, the rupee opened at 96.38 against the U.S. dollar, registering a fall of 18 paise from its previous close.

On Monday (May 18, 2026), the Indian rupee weakened further and closed at a record low of 96.20 against the U.S. dollar.

“The market’s biggest challenge right now is not just direction — it’s confidence. Until there is visible cooling in global tensions and stability in foreign flows, the rupee may continue trading under pressure with volatility staying elevated,” CR Forex Advisors MD Amit Pabari said.

Mr. Pabari further added that technically, 94.80–95.10 is expected to act as an important support zone for USD-INR. However, with no meaningful signs of easing in global risk factors, the pair now appears to be gradually shifting its focus toward the 97 mark.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.10, lower by 0.09% due to simmering Iran tensions.

Brent crude, the global oil benchmark, was trading down 1.91% at $109.96 per barrel in futures trade.

On the domestic equity market front, Sensex climbed 366.71 points to 75,706.88 in early trade, while the Nifty advanced 107.45 points to 23,760.

Foreign Institutional Investors remained net buyers for the third straight session, purchasing equities worth ₹2,813.69 crore on Monday (May 18, 2026), according to exchange data.

Meanwhile, a senior petroleum ministry official on Monday (May 18, 2026) said India has been purchasing Russian oil irrespective of U.S. sanctions waivers and will continue to do so based on commercial viability and energy security needs.

“Regarding the American waiver on Russia, I would like to emphasise that we have been purchasing from Russia earlier… before waiver also, during waiver also, and now also,” Sujata Sharma, joint secretary in the petroleum ministry, told reporters at a media briefing.

The rupee weakened further and fell to a record low of 95.73 (provisional) against the U.S. dollar on Thursday (May 14, 2026), amid a strong dollar and worries over inflation amid elevated energy prices.

Forex traders said the rupee is expected to trade with a negative bias amid inflation concerns and the strength of the U.S. dollar in the overseas market.

The West Asia crisis and the blockade of the Strait of Hormuz have disrupted crude petroleum imports into India. Also, the sharp rise in crude prices has made fuel imports costlier.

The rupee has become the worst-performing currency in Asia for the year, registering a loss of over 6% so far this year, as elevated crude oil prices, a strong dollar and concerns over the West Asia crisis weighed on investor sentiments, traders said.

At the interbank foreign exchange market, the rupee opened lower at 95.74 against the American currency.

In a volatile trade, the USD/INR pair witnessed an intra-day high of 95.61 and an all-time intraday low of 95.96 against the greenback before settling at 95.73 (provisional), down 7 paise from its previous close.

The rupee on Wednesday (May 13, 2026) slipped to an all-time low of 95.80 against the U.S. dollar, and settled at 95.66 against the greenback.

“We expect the rupee to trade with a negative bias amid inflation concerns and a strong dollar. Rising inflation in the U.S. dimmed expectations of a rate cut by the Fed,” said Anuj Choudhary, Research analyst at Mirae Asset ShareKhan.

Mr. Choudhary said geopolitical tensions between the U.S. and Iran and foreign fund outflows may also pressurise the rupee.

However, any intervention by the RBI and import duty hike on gold and silver may support the rupee at lower levels. USD/INR spot price is expected to trade in a range of 95.50 to 96.10, Mr. Choudhary added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 98.51, down 0.01%.

Brent crude, the global oil benchmark, was trading higher by 0.50% at $106.16 per barrel in futures trade.

On the domestic equity market front, Sensex jumped 789.74 points to settle at 75,398.72, while the Nifty climbed 277 points to 23,689.60.

Foreign Institutional Investors offloaded equities worth ₹4,703.15 crore on Wednesday (May 13, 2026), according to exchange data.

On the domestic macroeconomic front, wholesale price inflation shot up to a 42-month high of 8.3% in April on the back of a spike in energy prices that followed the disruptions caused by the West Asia conflict.

Wholesale price index (WPI) inflation was 3.88% in March, while it was 0.85% in April last year.

“Positive rate of inflation in April 2026 is primarily due to an increase in prices of mineral oils, crude petroleum & natural gas, basic metals, other manufacturing and non-food articles, etc,” data released by the commerce and industry ministry showed.

The Rupee depreciated 35 paise to a record low of 95.63 against the U.S. dollar in early trade on Tuesday (May 12, 2026), after U.S. President Donald Trump said that the ceasefire with Iran was on life support with hopes for a deal with the country fading, triggering a surge in crude oil prices.

Market sentiments remained dominated by fears that the 10-week-old conflict could further tighten global supply, particularly after Mr. Trump rejected Tehran’s latest response to a U.S.-backed peace proposal, calling it totally unacceptable.

At the interbank foreign exchange market, the Rupee opened at 95.57 against the U.S. dollar and then fell further to an all-time low of 95.63 against the greenback, down 35 paise from its previous close.

On Monday (May 11, 2026), the Rupee tanked 79 paise to settle at its record low of 95.28 against the U.S. dollar.

“Oil prices were largely steady in Asian trade on Tuesday (May 12, 2026) after climbing nearly 3% in the previous session, as U.S. President Trump said that the ceasefire with Iran was on life support, damping the hopes for a quick resolution to the conflict,” 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 at 98.14, up 0.19%. Brent crude, the global oil benchmark, rose sharply by 0.85% to $105.10 per barrel in futures trade.

U.S. President Donald Trump on Monday (May 11, 2026) said the ceasefire with Iran was at its “weakest” and on “massive life support”, a day after he rejected Tehran’s proposal to end the months-long war as “totally unacceptable”.

“It is at its weakest… After reading that piece of garbage they sent us… It’s on life support, massive life support,” Mr. Trump told reporters at the Oval Office in response to a question on the ceasefire with Iran in the wake of the rejection of the peace proposal.

“They think that I’ll get tired of this, or I’ll get bored, or I’ll have some pressure, but there’s no pressure, there’s no pressure at all. We’re going to have a complete victory,” Mr. Trump said.

On the domestic equity market front, Sensex fell 525.44 points to 75,489.84 in early trade, while the Nifty dropped 164.5 points to 23,651.35. Foreign Institutional Investors offloaded equities worth ₹8,437.56 crore on Monday (May 11, 2026), according to exchange data.

The rupee depreciated 28 paise to 94.77 against the U.S. dollar in early trade on Thursday (May 7, 2026) as market sentiment took a dramatic turn after reports emerged that the U.S. and Iran are discussing a 14-point Memorandum of Understanding (MOU) aimed at reducing tensions and reopening negotiations.

Forex traders said Brent oil prices, which had fallen to $98 on the U.S.-Iran peace deal, edged slightly higher to $101 per barrel after investors weighed the prospects for a West Asia peace deal.

Moreover, factors such as unabated foreign capital outflows amid rising geopolitical uncertainties further dented investor sentiment.

At the interbank foreign exchange market, the rupee opened at 94.77 against the U.S. dollar, registering a fall of 28 paise over its previous close.

On Wednesday (May 6, 2026), the rupee appreciated 69 paise to close at 94.49 against the U.S. dollar.

“Markets are currently focused on the critical 48-hour window during which the U.S. expects Tehran’s formal response through Pakistani mediators,” said CR Forex Advisors MD Amit Pabari.

U.S. President Donald Trump on Wednesday (May 6, 2026) threatened Iran with more bombing if it doesn’t reopen the Strait of Hormuz, amid a report that the warring sides were nearing an agreement to end the war.

U.S. media outlet Axios reported, quoting U.S. officials and two other sources, that the U.S. and Iran were getting close to a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations.

The U.S. expects Iranian responses on several key points over the next 48 hours, Axios reported, adding that nothing has been agreed yet. This was the closest the parties had been to an agreement since the war began.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 98.01, down 0.01%.

Brent crude, the global oil benchmark, was trading higher by 0.65% at $101.83 per barrel in futures trade.

On the domestic equity market front, the 30-share benchmark index Sensex declined 160.24 points to 77,798.28 in early trade, while the Nifty was down 30.25 points to 24,300.70.

Foreign Institutional Investors offloaded equities worth ₹5,834.90 crore on Wednesday (May 6, 2026), according to exchange data.

On the domestic macroeconomic front, the country’s goods and services exports rose 4.6% to an all-time high of $863.11 billion during 2025-26, up from $825.26 billion in 2024-25, despite global economic uncertainties, according to revised commerce ministry data.

Merchandise exports grew 0.93% to $441.78 billion in the last fiscal year from $437.70 billion in 2024-25, the data showed.

The rupee slid ​to a record low on ‌Tuesday (May 5, 2026) after U.S.-Iranian strikes ​in the Gulf rattled ⁠markets, dimming hopes for a resolution and deepening concerns over ‌risks confronting the oil-importing economy.

The currency ‌weakened to 95.39 ‌per ⁠dollar, down 0.3% on ⁠the day, eclipsing its previous all-time low of 95.33 hit on ​Thursday (April 30, 2026) last ‌week.

Oil-sensitive Asian peers such as the Indonesian rupiah and Philippine peso also ‌weakened on Tuesday (May 5, 2026) as ​the Gulf hostilities tested a fragile truce ⁠and kept investors on edge.

Analysts reckon that an ‌elongated conflict in the West Asia, which keeps energy prices elevated, would widen India’s current account deficit, slow growth ‌and stoke inflation.

The economic worries ​have reflected in foreign portfolio outflows from ⁠Indian assets. Overseas investors have ⁠net sold over $20 billion worth of Indian ‌stocks between March and May so far.

The rupee on Thursday (April 30, 2026) hit a lifetime intraday low of 95.34 against the U.S. dollar before trading at 95.25 in the mid-session deals, tracking surging global crude oil prices and selling in domestic equities amid the West Asia crisis.

Meanwhile, the U.S. Fed kept rates unchanged amid strong inflation pressure triggered by high crude prices.

At the interbank foreign exchange market, the rupee opened at 95.01 against the dollar, then lost 46 paise to touch a record intraday low of 95.34. In the afternoon session, the domestic currency was trading 37 paise lower at 95.25.

On Wednesday (April 29, 2026), 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 slightly lower by 0.03% to 98.79.

Brent crude, the global oil benchmark, was trading 3.46% higher at $122.11 per barrel in futures trade.

On the domestic equity market front, Sensex tumbled 687.75 points to 76,808.61 points in afternoon trade, while the Nifty dived 228.60 points to 23,949.05.

Foreign Institutional Investors offloaded equities worth ₹2,468.42 crore on Wednesday (April 29, 2026), according to exchange data.

“FPIs continue with their sale of Indian Equities and debt [the yield touched 7% on Wednesday (April 29, 2026)] and are also dollar buyers consistently,” Mr. Bhansali added.