The rupee gained 26 paise to trade at 94.96 per U.S. dollar on Tuesday (September 1, 2026) morning, on robust domestic growth, contained fiscal slippage, and portfolio-related inflows.

Forex traders said the USD/INR pair appears to have found a strong near-term base around 95.10-95.20. While MSCI-related inflows have provided temporary support.

At the interbank foreign exchange market, the rupee opened at 95.06, then gained ground to touch 94.96 against the U.S. dollar, registering a gain of 26 paise from its previous close.

On Monday (August 31, 2026), the rupee pared initial losses and settled for the day with gains of 21 paise at 95.22 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.46, higher by 0.03%.

Brent crude, the global oil benchmark, was trading higher by 0.63% at $91.06 per barrel in futures trade after U.S. President Donald Trump warned that the United States would “hit Iran hard” following missile attacks on American military bases in Jordan.

On the domestic equities market front, Sensex declined 121.48 points to 76,835.79 in early trade, while the Nifty dipped 52.6 points to 24,027.80.

Foreign institutional investors offloaded equities worth ₹7,985.88 crore on a net basis on Monday (August 31, 2026), according to exchange data.

FPIs invested around $3.1 billion in August, their strongest monthly inflow in 23 months and the second consecutive month of net buying.

However, foreign investors remain net sellers of around $24.6 billion so far in 2026. “So, the direction has improved — but the broader foreign-flow picture is still not completely comfortable,” Mr. Pabari added.

On the macroeconomic front, India’s economy grew at a faster-than-expected 7.8% in the April-June quarter, showing resilience in the face of concerns that the war in Iran and resulting global economic uncertainty could weigh on growth.

“The data is particularly noteworthy because it came during a period marked by Middle East tensions and elevated crude prices. Strong growth does not automatically strengthen a currency, but it does reinforce the perception that India’s domestic economy remains resilient despite global turbulence,” CR Forex Advisors MD Amit Pabari said.

Meanwhile, the central government’s fiscal deficit for 2026-27 stood at 26.8 per cent of the full-year target at the end of July, according to data released by the Controller General of Accounts (CGA) on Monday.

The deficit was at 29.9% of Budget Estimates (BE) of 2025-26 for the first four months of the previous financial year.

The rupee pared initial gains and settled for the day lower by 3 paise at 95.74 (provisional) against the U.S. dollar on Monday (August 24, 2026), on a positive American currency and weak domestic markets.

Forex traders said the USD/INR pair traded in a narrow range as rising Brent crude prices, persistent importer demand, and cautious sentiment over new U.S. sanctions targeting Iran weighed on investor sentiment.

At the interbank foreign exchange, the rupee opened at 95.65, then touched an intraday high of 95.64 and a low of 95.75 and finally settled for the day at 95.74 (provisional) against the greenback, lower by 3 paise from its previous close.

On Friday (August 21, 2026), the rupee settled higher by just 3 paise at 95.71 against the U.S. dollar.

“We expect the rupee to trade with a slight negative bias on uncertainty between the US and Iran. Elevated crude oil prices may also weigh on the rupee. However, overall weakness in the US dollar on declining odds of a rate hike may support the rupee at lower levels. USD/INR spot price is expected to trade in a range of 95.50 to 96,” said Anuj Choudhary, research analyst, Mirae Asset ShareKhan.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 98.98, higher by 0.18%.

Brent crude, the global oil benchmark, was trading lower by 1.62% at $92.86 per barrel in futures trade.

On the domestic market front, Sensex fell 171.72 points to settle at 77,369.11, while the Nifty declined 32.95 points to 24,219.05.

Foreign institutional investors offloaded equities worth ₹542.71 crore on a net basis on Friday (August 21, 2026), according to exchange data.

India’s forex reserves jumped $9.905 billion to $716.907 billion during the week ended August 14, the Reserve Bank of India (RBI) said on Friday (August 21, 2026).

The rupee appreciated 17 paise to 95.56 against the American currency in early trade on Thursday (August 20, 2026) tracking a weak U.S. dollar, after the U.S. Treasury announced that it would double its buyback operations for longer-dated Treasury bonds.

Forex traders said the dollar index fell to its lowest level since late May after the U.S. Treasury announced that it would double its buyback operations for longer-dated Treasury bonds, pushing U.S. long-term yields lower and reducing the dollar’s yield advantage.

Moreover, the dollar is also being weighed down by reduced expectations of further Federal Reserve tightening though the FED policymakers’ inflation concerns increased at the July meeting, according to the FED minutes.

At the interbank foreign exchange, the rupee opened at 95.57, then rose to 95.56, higher by 17 paise from its previous close.

On Wednesday (August 19, 2026), the rupee stayed almost flat, ending just 1 paisa higher at 95.73 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 98.82, lower 0.01%.

The U.S. Treasury has said that it will at least double how much it buys back in longer-term government bonds, from $2 billion to $4 billion per operation, starting September 9.

“Lower long-term yields and concerns around fiscal support can reduce the appeal of dollar assets,” CR Forex Advisors MD, Amit Pabari said.

Brent crude, the global oil benchmark, was trading higher by 0.32% at $91.91 per barrel in futures trade.

“Oil continues to trade above $90 with a nervous edge, keeping pressure on India’s import bill. So while a weaker dollar offers some relief to the rupee, elevated oil prices remain a major counterweight,” Mr. Pabari said.

According to Mr. Pabari, the immediate support for the rupee is near 95.30–95.50. As long as this holds, USD/INR is expected to gradually move towards 96.20–96.50, he said.

“The weaker dollar may create short-term pauses, but oil and sentiment remain fragile. Dips are therefore likely to be shallow and short-lived rather than a genuine trend reversal,” he said.

On the domestic market front, Sensex jumped 504.32 points to 77,416.16, while the Nifty was trading up 118.85 points to 24,198.55 in early trade.

Foreign institutional investors purchased equities worth ₹407.99 crore on a net basis on Wednesday (August 19, 2026), according to exchange data.

The rupee fell 7 paise to 94.58 against the American currency in early trade on Tuesday (June 30, 2026), as month-end demand for dollars from importers and corporates added pressure on the domestic unit.

Forex traders said the losses for the rupee were partly cushioned by relatively stable crude oil prices globally.

However, concerns about potential supply disruptions in the Gulf and continued uncertainty around the Strait of Hormuz weighed on investor sentiments.

At the interbank foreign exchange market, the rupee touched 94.58 against the U.S. dollar, registering a loss of 7 paise from its previous close.

On Monday (June 29, 2026), the rupee pared initial gains and settled lower by 6 paise at 94.51 against the dollar.

“As June draws to a close, month-end and quarter-end dollar demand has started showing up once again. Importers, corporates, and banks typically use this period to square positions and meet payment obligations, creating additional demand for dollars,” CR Forex Advisors MD Amit Pabari said.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 101.31, up 0.21%.

Meanwhile, Brent crude, the global oil benchmark, was trading lower by 0.44% at $72.83 per barrel in futures trade.

“The sharp geopolitical risk premium that had pushed oil higher earlier has largely faded, with traders now focusing on the resumption of US-Iran discussions. However, mixed signals from both sides mean that energy markets are not yet ready to declare the situation resolved,” Mr. Pabari said.

On the domestic macroeconomic front, industrial production expanded by 5.1% in May, exceeding market expectations and improving from the previous month’s reading.

The IIP data suggest that despite global uncertainty, domestic economic activity continues to show resilience. Stronger growth ultimately strengthens the foundation on which the rupee stands, Mr. Pabari added.

“Technically, 94.00–94.30 remains a strong support zone for USDINR. The pair has repeatedly tested this area over the past week but has been unable to break lower, indicating strong dollar demand and possible RBI buying interest,” he added.

On the domestic equity market front, Sensex declined 103.95 points to 76,624.42 in early trade, while the Nifty dropped 40.10 points to 23,908.80.

Foreign institutional investors sold equities worth ₹1,350.1 crore on a net basis on Monday (June 29, 2026), according to exchange data.

Meanwhile, U.S. Ambassador to India Sergio Gor said on Tuesday (June 30, 2026) said the U.S.-India trade deal is in its “final steps”, with only the last 1% of negotiations left to be concluded.

Addressing the U.S.-India Strategic Partnership Forum Leadership Summit, Mr. Gor said he was determined to agree as it would be beneficial to both nations, and it would be sealed after nearly 18 months of talks.

The rupee started the new year on a negative note and depreciated 11 paise to 89.99 against the U.S. dollar in early trade on Thursday (January 1, 2026) weighed down by persistent foreign fund outflows.

Forex traders said the rupee entered 2026 with both challenges and cushions, while global uncertainty persists, India’s strong macroeconomic parameters and ample forex reserves provide stability.

At the interbank foreign exchange market, the rupee opened at 89.94 against the U.S. dollar, then lost some ground and touched 89.99, registering a fall of 11 paise over its previous close.

On Wednesday (December 31, 2025), the last trading session of 2025, the rupee settled at 89.88 against the U.S. dollar.

“While the calendar has changed, volatility is likely to persist. Under Governor Sanjay Malhotra, the RBI appears comfortable allowing the rupee to adjust with market forces, while remaining actively present to smooth excessive moves and maintain orderly conditions,” CR Forex Advisors MD Amit Pabari said.

Progress on the paused India–U.S. trade deal remains a key upside risk and could deliver a meaningful confidence boost if concluded, Mr. Pabari said. “For now, USD/INR is expected to trade in the 89.30–90.20 range in the near term,” he said, adding that a sustained break below 89.30 could open the path toward 88.50.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.09% higher at 98.32.

Brent crude, the global oil benchmark, was trading lower by 0.78% at $60.85 per barrel in futures trade.

On the domestic equity market front, the 30-share benchmark index Sensex was trading 194.38 points higher at 85,414.98, while the Nifty was up 47.55 points at 26,177.15.

Foreign Institutional Investors offloaded equities worth ₹3,597.38 crore on Wednesday, according to exchange data.

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 traded in a narrow range and depreciated by 7 paise to 88.69 against the U.S. dollar in early trade on Thursday (November 13, 2025), as strong U.S. dollar index and a muted trend in domestic equities weighed on investors’ sentiment.

Forex traders said the rupee is trading in a tight range, with renewed optimism over U.S.-India trade talks providing a steady anchor. In contrast, a steady U.S. dollar index dented investors’ sentiment.

The U.S. dollar index is hovering near 99.50, as the market braced for the final chapter of the U.S. government shutdown saga.

At the interbank foreign exchange market, the rupee opened at 88.66 against the U.S. dollar before dropping to 88.69, down 7 paise from its previous close.

On Wednesday (November 12, 2025), the rupee depreciated 12 paise to close at 88.62 against the U.S. dollar.

“The USD/INR pair finds a crucial support at 88.40. A sustained break below this level could open the door toward 87.70–88.00, signalling further rupee strength. On the upside, resistance lies at 88.70–88.80,” 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 0.02% higher at 99.51.

Brent crude, the global oil benchmark, was trading 0.13% lower at $62.63 per barrel in futures trade.

On the domestic equity market front, the Sensex declined 205.08 points to 84,261.43 in early trade, while the Nifty dropped 61.15 points to 25,814.65.

Foreign Institutional Investors sold equities worth ₹1,750.03 crore on Wednesday, according to exchange data.

Meanwhile, the government on Wednesday approved an Export Promotion Mission (EPM) with an outlay of ₹25,060 crore for six financial years, beginning this fiscal year, a move which will help exporters deal with high tariffs imposed by the U.S.

The mission will be implemented through two sub-schemes— Niryat Protsahan (₹10,401 crore) and Niryat Disha (₹14,659 crore).

“These measures are part of broader efforts to strengthen exports and contain the trade deficit, a factor that ultimately supports the currency by easing pressure on the rupee and maintaining external stability,” Mr. Pabari added.

The rupee recovered 2 paise from its all-time closing low to settle at 88.71 (provisional) against the U.S. dollar on Wednesday (September 24, 2025), as steep tariffs and H-1B visa related issues kept the domestic unit under pressure.

Forex traders said rupee is hovering near its all-time low level on sustained foreign fund outflows amid investors’ risk-aversion and trade policy uncertainty.

Moreover, enhanced U.S. tariffs on Indian goods as well as trade policy uncertainty exacerbated the rupee’s depreciation.

At the interbank foreign exchange, the rupee opened at 88.80 against the U.S. dollar, and finally settled for the day at 88.71 (provisional), registering a recovery of 2 paise over its previous close. On Tuesday (September 23, 2025), the rupee depreciated 45 paise to close at a fresh all-time low of 88.73 against the U.S. dollar. It had touched an all-time intraday low of 88.82 against the U.S. dollar.

The Indian rupee is hovering near all-time low levels against the U.S. dollar on the back of H-1B visa hike shock from the U.S., traders said.

“We expect the rupee to remain weak on U.S. visa fee hike issue. Weakness in the domestic market and FII outflows may further pressurise the rupee.

“However, weakness in crude oil prices may support rupee at lower levels. Any intervention by the RBI may also support the rupee. Traders may take cues from new home sale data from the U.S. USD-INR spot price is expected to trade in a range of 88.40 to 89.25,” said Anuj Choudhary, research analyst, currency and commodities, Mirae Asset ShareKhan.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.36% higher at 97.61.

Brent crude, the global oil benchmark, was trading 0.61% higher at $68.04 per barrel in futures trade.

On the domestic equity market front, Sensex dropped 386.47 points to settle at 81,715.63, while the Nifty declined 112.60 points to 25,056.90.

Foreign Institutional Investors offloaded equities worth ₹3,551.19 crore on Tuesday, according to exchange data.

Meanwhile, Commerce and Industry Minister Piyush Goyal is in the U.S. for trade talks. He is accompanied by senior officials of the Ministry, including Special Secretary and India’s Chief Negotiator Rajesh Agrawal.

Mr. Goyal has held discussions with his U.S. counterpart.

This visit comes in the backdrop of recently concluded day-long discussions in New Delhi between U.S. Chief Negotiator Brendan Lynch and Mr. Agrawal on the proposed bilateral trade agreement.

The rupee depreciated 15 paise to close at 88.31 (provisional) against the U.S. dollar on Monday (September 22, 2025), as investors weighed President Donald Trump’s H-1B visa fee hike impact on Indian remittances amid heightened risk-averse sentiment.

Forex traders said the recent hike in H-1B visa fees could contribute to equity outflows from the Indian IT sector in the near term, and could also exert pressure on the Indian rupee.

At the interbank foreign exchange, the rupee opened at 88.20, then touched an intra-day low of 88.34 and a high of 88.12 against the greenback. The domestic unit finally settled at 88.31 (provisional), lower by 15 paise over its previous close.

On Friday (September 19, 2025), the rupee appreciated four paise to close at 88.16 against the U.S. dollar.

“We expect the rupee to remain weak as the U.S. visa fee hike may dent market sentiments, which may weigh on the domestic currency.

“Risk aversion in domestic markets may also pressure the rupee. However, overall weakness in crude oil prices may support the rupee at lower levels. USDINR spot price is expected to trade in a range of 88.05 to 88.60,” said Anuj Choudhary, Research Analyst, Currency and Commodities, Mirae Asset ShareKhan.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.12% to 97.52.

Brent crude, the global oil benchmark, was trading 0.21% lower at $66.54 per barrel in futures trade.

On the domestic equity market front, Sensex tanked 466.26 points to settle at 82,159.97, while Nifty dropped 124.70 points to 25,202.35.

Foreign institutional investors bought equities worth ₹390.74 crore on a net basis on Friday, according to exchange data.

India’s forex reserves jumped $4.698 billion to $702.966 billion for the week ended September 12, the Reserve Bank of India (RBI) said on Friday.

In the previous reporting week, the overall reserves had increased $4.038 billion to $698.268 billion.

Meanwhile, Commerce and Industry Minister Piyush Goyal is leading an official delegation to the U.S. for trade talks.

The delegation plans to hold talks with the U.S. team to take forward discussions with a view to achieving an early conclusion of a mutually beneficial trade agreement.

The Minister will visit New York, accompanied by the special secretary in the ministry, Rajesh Agrawal, and other officials.

The rupee slumped 36 paise and closed for the day at an all-time low of 88.47 (provisional) against the U.S. dollar, as ongoing tariff issue between India and the U.S. weighed heavily on the domestic currency’s vulnerability.

Forex traders said a recovery in the U.S. dollar ahead of the inflation data and foreign fund outflows further dented investors’ sentiments. Crude oil prices also gained over the past few sessions, putting further pressure on the rupee.

Traders noted that the rupee, which showed signs of minor recovery after U.S. President Donald Trump gave positive signals about the India-U.S. trade treaty, remains fragile due to dollar demand and global factors.

At the interbank foreign exchange, the domestic unit opened at 88.11 and fell to an all-time low of 88.47 against the U.S. dollar in intraday trade. The domestic unit settled for the day at a record low of 88.47 (provisional), registering a sharp decline of 36 paise over its previous close.

On Wednesday (September 10, 2025), the rupee recovered slightly from its record low level and ended with a gain of 4 paise at 88.11 against the US dollar.

On September 5, the rupee touched the lowest-ever intraday level of 88.38, but pared all losses before ending at ₹88.09 against the US dollar.

The unit had recorded its all-time low closing level of 88.15 against the dollar on September 2.

“The Indian rupee is trading near historic lows, facing pressure from strong import dollar demand, external tariff concerns and market anticipation of US inflation data and FED Reserve policy,” said Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP.

Mr. Bhansali further added, “The dollar index was also up touching almost 98 levels, while Brent oil prices also were up keeping the dollar bids on the higher side. The premiums were also indicating higher due to increase in interest rate differential between India and US in the last three days. The rupee is expected to be in the range of 88.25 to 88.75 on Friday.” Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.22% to 97.99.

Brent crude, the global oil benchmark, was trading 0.25% lower at $67.32 per barrel in futures trade.

“We expect the rupee to trade with a negative bias amid a recovery in the U.S. dollar index and persistent FII outflows. Dollar demand from importers and ongoing tariff issues between India and U.S. may also pressurise the rupee. However, positive domestic equities and renewed negotiations between India and U.S. may support rupee at lower levels,” said Anuj Choudhary, research analyst, currency and commodities, Mirae Asset ShareKhan.

On the domestic equity market front, Sensex climbed 123.58 points to settle at 81,548.73, while the Nifty advanced 32.40 points to 25,005.50.

Foreign Institutional Investors offloaded equities worth ₹115.69 crore on Wednesday, according to exchange data.

Meanwhile, India and the U.S. are natural partners and teams from both sides are working to conclude negotiations on a bilateral trade deal, Prime Minister Narendra Modi said on Wednesday in response to U.S. President Donald Trump’s remarks that efforts are on to address “trade barriers” between the two countries.

The exchange between the two leaders on social media is largely seen as part of efforts by both New Delhi and Washington to reset ties that witnessed increasing stress in the last few weeks after Mr. Trump doubled tariffs on Indian goods.