The rupee rose for the second consecutive session on Friday (May 22, 2026) to close at 95.73 (provisional) against the U.S. dollar on softening of crude oil prices and supposed intervention by the Reserve Bank.

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.

Moreover, positive domestic equities and a decline in U.S. treasury yields also supported the rupee.

At the interbank foreign exchange market, the rupee opened at 96.30 against the U.S. dollar, then touched an intraday high of 95.30 and a low of 95.68 against the U.S. dollar in intraday trade.

At the end of the trading session on Friday (May 22, 2026), the rupee was quoted at 95.73 (provisional), higher by 63 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.

“We expect the rupee to trade with a negative bias on uncertainty between U.S. and Iran, which may pressurise the rupee. However, optimism over peace deal and softening of crude oil prices may support the rupee at lower levels.

“U.S. Treasury yields are also easing, which may also support the domestic currency. USD-INR spot price is expected to trade in a range of 95.50 to 96.30,” said Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan.

Sahil Kapoor, Head of Products and Market Strategist, SVP, DSP Mutual Fund, in a research note, said it is the time to buy rupee assets and not bet against them.

“Currencies, interest rates, and flows are inherently cyclical. Betting against the rupee at these depressed REER levels and tight inflation differentials is a low-probability trade. Conversely, the data suggests it is time to allocate toward rupee-denominated assets across both equities and bonds,” he said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.29, down 0.04%.

Brent crude, the global oil benchmark, was trading up 2.18 per cent at $104.82 per barrel in futures trade.

On the domestic equity market front, Sensex climbed 231.99 points to settle at 75,415.35, while the Nifty advanced 64.60 points to 23,719.30

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 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 on a weaker note and fell 30 paise to 95.94 on Friday (May 15, 2026) after hitting new lows over three straight sessions, as elevated crude oil prices, a strong dollar, and concerns over the West Asia crisis weighed on investor sentiment.

Forex traders said USD-INR is under pressure and hovering very close to the 96 mark as dollar buying continues amid upside in oil prices.

Moreover, the Summit between U.S. President Trump and Chinese President Xi did not yield any fruitful results, particularly on the U.S.-Iran front, denting investor sentiments further.

The USD/INR pair, which had slumped to 95.96 against the American currency on Thursday (May 14, 2026), recovered sharply after reports surfaced that India is considering a major cut in taxes paid by foreign investors on Indian bonds.

On Friday (May 15, 2026), the government hiked the petrol and diesel prices by ₹3 per litre in the latest move to curb the demand of these fuels.

At the interbank foreign exchange market, the rupee opened at 95.86, then fell further to 95.94 against the U.S. dollar, registering a fall of 30 paise from its previous close.

The rupee weakened to a fresh record low of 95.96 before closing with a marginal gain of 2 paise at 95.64 against the U.S. dollar on Thursday (May 14, 2026).

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.05, higher by 0.24%.

Brent crude, the global oil benchmark, was trading up 1.30% at $107.09 per barrel in futures trade.

On the domestic equity market front, Sensex rose 239.14 points to 75,637.86 in early trade, while the Nifty was trading 78.30 points higher at 23,767.90.

“The Dollar Index rose for a fourth straight session after strong US retail sales and stable labour market data reduced expectations of aggressive Federal Reserve rate cuts,” CR Forex Advisors MD – Amit Pabari said.

Adding another layer of uncertainty for the rupee was the closely watched meeting between U.S. President Donald Trump and Chinese President Xi Jinping. While both sides tried to maintain stability, disagreements over Taiwan and China’s continued oil purchases from Iran kept geopolitical concerns alive.

“And whenever uncertainty rises globally, the dollar usually becomes the market’s preferred safe place. For now, the rupee remains caught between policy support at home and global pressure from oil, inflation, and the dollar abroad,” Pabari added.

Foreign Institutional Investors turned net buyers purchasing equities worth ₹187.46 crore on Thursday (May 14, 2026), according to exchange data.

Meanwhile, the government on Thursday (May 14, 2026) imposed a limit of 100 kg on gold imports under the Advance Authorisation scheme, which allows jewellery exporters to import raw or input materials at zero duty.

The government has tightened the conditions for issuing and monitoring advance authorisation for the import of gold. Earlier, there was no limit on gold imports under the scheme.

The Advance Authorisation scheme allows the duty-free import of inputs that are incorporated into an export product. In addition to any inputs, packaging material, fuel, oil, and catalyst that are consumed or utilised in the process of production of export products, are also allowed.

The rupee opened on a weak note and depreciated 20 paise to a record low of 95.86 against the U.S. dollar in early trade on Thursday (May 14, 2026), weighed down by elevated crude prices and concerns over the West Asia crisis.

The rupee has now weakened by more than 6% against the U.S. dollar since the West Asia conflict began, making it Asia’s worst-performing currency so far in 2026.

In a major move aimed at protecting foreign exchange reserves, India raised import duties on gold and silver from 6% to 15%, but traders said the rupee’s path will be shaped less by gold and more by crude’s trajectory and the West Asia situation.

At the interbank foreign exchange market, the rupee opened at 95.74, then fell further to a record low of 95.86 against the U.S. dollar, registering a fall of 20 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 near its record closing low level.

“From jewellery showrooms to fuel stations, every imported commodity is now carrying a heavier price tag — and the rupee is feeling the weight of it,” CR Forex Advisors MD – Amit Pabari said.

Adding to the uncertainty, geopolitical headlines continue to swing market sentiment almost every few hours, Pabari said.

“U.S. President Donald Trump stated that he does not expect China’s help in resolving the Iran conflict, while peace negotiations between Washington and Tehran remain on hold as both sides continue to disagree on key conditions,” he added.

Chinese President Xi Jinping on Thursday (May 14, 2026) said that 2026 will be “historic, landmark year” for China-U.S. relations as he welcomed US President Donald Trump at the Great Hall of the People for talks with him.

The leaders of ‌the world’s two largest economies are scheduled to have a few rounds of talks on Thursday and Friday.

The visit by President Trump comes amid growing economic and geopolitical uncertainties arising from conflicts in the West East and the subsequent global energy shock that has taken a toll, particularly in Asia.

The two leaders are expected to discuss the war in Iran, trade, technology and Taiwan, among other points of contention, during the visit.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 98.48, down 0.04%.

Brent crude, the global oil benchmark, was trading higher by 0.44% at $106.10 per barrel in futures trade.

On the domestic equity market front, Sensex jumped 424.44 points to 75,033.42 in early trade, while Nifty climbed 141.90 points to 23,554.50.

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

The rupee extended its losing streak for the fifth day in a row, depreciating 22 paise to close at 94.23 (provisional) against the U.S. dollar on Friday (April 24, 2026) due to higher crude oil prices and strengthening American currency, with prospects of West Asia peace talks hanging in the balance.

Despite a ceasefire being in place between the United States and Iran, ship movement through the Strait of Hormuz remained uncertain, unsettling the global fuel prices, while the upheaval triggered a massive selling in domestic equity markets and outflow of foreign funds, forex analysts said.

President Donald Trump has also ordered the U.S military to “shoot and kill” small Iranian boats that deploy mines to choke traffic through the Strait of Hormuz..

At the interbank foreign exchange market, the rupee opened at 94.25 and stayed range-bound throughout the session, hitting the day’s high of 94.18 and the low of 94.31 against the greenback.

The currency settled for the day at 94.23 (provisional), registering a loss of 22 paise from the previous closing level.

The rupee settled 23 paise lower at 94.01 against the U.S. dollar on Thursday (April 23, 2026), the fourth consecutive day of decline.

In the past five sessions, the domestic unit has lost over 1%, since the closing level of 92.91 recorded on April 17.

Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan, said the rupee fell on risk aversion in global markets as the U.S. blockade of the Strait of Hormuz continued to keep the tensions high.

“A strong dollar and surge in crude oil prices weighed on the rupee,” he said, adding,” USD-INR spot price is expected to trade in a range of ₹94 to ₹94.62.”

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was 0.02% higher at 98.62.

Brent crude, the global oil benchmark, surged 2.21% to $107.39 per barrel in futures trade.

In the domestic equity markets, the 30-share Sensex sank 982.71 points or 1.27% to settle at 76,681.29, while the Nifty crashed 275.10 points or 1.14% to 23,897.95.

Foreign Institutional Investors offloaded equities worth about ₹3,254.71 crore on Thursday (April 23, 2026), according to the exchange data.

The rupee depreciated 7 paise to close at a record low of 90.97 (provisional) against the U.S. dollar on Tuesday (January 20, 2026), as strong dollar demand from metal importers and persistent foreign fund outflows dented investor sentiment.

Forex traders said rising geopolitical uncertainties, including renewed U.S. expansionary signals, have increased risk aversion and kept emerging market currencies under pressure.

Moreover, a sluggish domestic stock market triggered by an exodus of foreign capital further weighed on the local unit, they said.

At the interbank foreign exchange, the rupee opened at 90.91 and lost ground, touched an intraday low of 91.06, and finally ended the day at an all-time low of 90.97 (provisional) against the American currency.

On Monday (January 19, 2026), the rupee depreciated by 12 paise to close at 90.90 against the greenback.

On December 16, 2025, the rupee reached its lowest intra-day level of 91.14 and its previous lowest closing level of 90.93 against the American currency.

“The Indian rupee traded with a negative bias and slipped below the 91-mark on risk aversion in global markets and persistent FII outflows. However, a weak dollar and intervention by the RBI prevented a sharp fall,” said Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan.

Mr. Choudhary further noted that the rupee is expected to trade with a negative bias on foreign fund outflows and risk aversion in global markets over the U.S. stance on Greenland.

“Uncertainty over trade deal talks may also pressurise the rupee. However, a weak dollar and any RBI intervention may support the rupee at lower levels. USD-INR spot price is expected to trade in a range of 90.70 to 91.25,” he said.

Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, was trading 0.91% lower at 98.48.

Brent crude, the global oil benchmark, was trading at $63.94 per barrel in futures trade.

On the domestic equity market front, Sensex tumbled 1,065.71 points to settle at 82,180.47, while the Nifty dived 353 points to 25,232.50.

Foreign institutional investors offloaded equities worth ₹3,262.82 crore on Monday (January 19, 2026), according to exchange data.

Rupee depreciated 9 paise to an all-time low of 90.58 against U.S. dollar in early trade on Monday (December 15, 2025), weighed down by uncertainty over an India-U.S. trade deal and persistent foreign fund outflows.

Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-U.S. trade deal front.

At the interbank foreign exchange market, the rupee opened at 90.53 against the U.S. dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.

On Friday (December 12, 2025), the rupee had slipped 17 paise to close at an all-time low of 90.49 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.05% lower at 98.35.

Brent crude, the global oil benchmark, was trading higher by 0.52% at $61.44 per barrel in futures trade.

On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the 50-share benchmark index Nifty was down 121.40 points at 25,925.55.

Foreign Institutional Investors (FIIs) sold equities worth ₹1,114.22 crore on Friday (December 12, 2025), according to exchange data.

“Foreign Portfolio Investments (FPIs) continue to be in selling mode in equity and debt while Reserve Bank of India (RBI) has been selling dollars to fund their long positions,” said Anil Kumar Bhansali, head of treasury and executive director of Finrex Treasury Advisors LLP.