The rupee stayed weak for the seventh consecutive session, declining 7 paise to 95.95 (provisional) against the U.S. dollar on Wednesday (September 16, 2026), tracking a strong greenback overseas and foreign fund outflows.

Forex traders said the rupee’s slide was capped by positive domestic equity markets, even as crude oil prices remained elevated amid escalating U.S.-Iran conflict.

At the interbank foreign exchange market, the rupee opened at 95.89 and moved in the range of 95.85 to 95.98 against the greenback. The unit finally settled 7 paise lower at 95.95 (provisional) against the American currency.

The local unit ended 34 paise lower at 95.88 against the American currency on Tuesday (September 15), after weakening by 113 paise, or more than 1%, in the preceding five sessions since the closing level of 94.43 on September 4.

Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the local currency declined on a positive dollar ahead of the Federal Open Market Committee (FOMC) decision.

“Elevated crude oil prices and rising U.S. Treasury yields also pressurised the rupee. Rising crude oil prices have led to higher demand for dollars by importers. However, positive domestic markets cushioned the downside,” Mr. Choudhary said, adding that “USD-INR spot price is expected to trade in a range of ₹95.75 to ₹96.20”.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.04% higher at 99.38.

The dollar strengthened amid market expectations of a interest rate hike by the U.S. Federal Reserve, which will announce its monetary policy decision later today.

Brent crude, the global oil benchmark, was trading lower by 1.14% but remained elevated at $107.51 per barrel in futures trade.

According to analysts, oil prices surged as the West Asia conflict flared up after attacks from Iranian-backed Houthi rebels in Yemen against Saudi Arabia’s shipping and infrastructure. Traders fear the escalating conflict could disrupt Saudi oil exports out of the Red Sea.

In domestic equities, Sensex rose 332.63 points, or 0.45%, to settle at 74,336.45, while the Nifty advanced 99.00 points, or 0.43%, to 23,217.60.

Foreign institutional investors (FIIs) offloaded equities worth ₹2,977.86 crore on a net basis on Tuesday (September 15), according to exchange data.

The rupee depreciated 21 paise to 94.95 against U.S. dollar on Wednesday (September 9, 2026) weighed down by surging crude oil prices, which inched closer to the $100-a-barrel mark amid the simmering U.S.-Iran tensions.

A weak dollar, however, cushioned the fall, forex traders said.

At the interbank foreign exchange market, the rupee opened at 94.80 against the U.S. dollar, then touched 94.95, registering a fall of 21 paise from its previous close.

On Tuesday (September 8), the rupee fell 18 paise to close at 94.74 against the American currency.

“Indian rupee opened lower on escalating geopolitical tensions and a surge in crude oil prices. Brent has neared the $100 mark as U.S. and Iran attack each other,” said Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan.

“The local currency is expected to trade with a negative bias on rising crude oil prices and escalating geopolitical tensions,” he said.

“Weak global markets may further pressurise the rupee. However, a weak dollar may support the rupee at lower levels. Investors now focus on inflation data from the US and India. USDINR spot price is expected to trade in a range of ₹94.70 to ₹95.15,” he added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 98.76, lower by 0.03%.

Brent crude, the global oil benchmark, was trading 1.41% higher at $99.30 per barrel in futures trading, amid escalating U.S.-Iran tensions and fears of disruptions to oil flows through the Strait of Hormuz.

On the domestic equities market front, Sensex tanked 500.25 points to 75,060.61 in early trade while Nifty declined 129.40 points to 23,506.10.

Foreign institutional investors (FIIs) sold equities worth ₹123.19 crore on a net basis on Tuesday (September 8), according to exchange data.

The rupee pared initial gains and settled for the day lower by 11 paise at 95.55 (provisional) against the U.S. dollar on Thursday (August 27, 2026), on a strong American currency and weak domestic markets.

Also read | Sensex tanks 539 points, Nifty drops below 24,100 dragged by HDFC Bank

Forex traders said the broad strength of the American currency in the overseas market negated the support from easing crude oil prices.

Brent prices fell below the $90 mark for the first time in several sessions amid continuing discussions between Iran and Oman regarding a temporary shipping corridor through the Strait.

While no final agreement has been reached, the fact that negotiations are continuing has reduced fears of a prolonged disruption to global oil supplies, forex traders said.

At the interbank foreign exchange, the rupee opened at 95.50, then touched an intraday high of 95.40 and a low of 95.56 and finally settled for the day at 95.55 (provisional) against the greenback, lower by 11 paise from its previous close.

On Tuesday (August 25), the rupee settled for the day higher by 26 paise at 95.44 against the U.S. dollar.

The Indian foreign exchange market was closed on Wednesday (August 26) on account of Id-e-Milad.

According to forex traders, market participants will be closely monitoring U.S. Fed Chair Kevin Warsh’s speech at the Jackson Hole Symposium.

According to Anindya Banerjee, Head of Commodity and Currency Research, Kotak Securities, the rupee’s story this month is really the story of the flows.

“The special swap facility has attracted total inflows of nearly $73 billion as of August 21, over $65 billion through FCNR(B) deposits alone, roughly two-and-a-half times what the celebrated 2013 scheme raised, and with the final rush into the August 31 deposit deadline and the ECB window open until December, we estimate total flows under these schemes could touch $85 to $90 billion,” Mr. Banerjee said.

The inflows have created a formidable war-chest, and it means the rupee’s appreciation potential remains largely unspent, he said, adding, “We expect a 95 to 96 operational range, and a close below 95 would open a move towards 94. We remain bullish on the Indian rupee.” Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.21, higher by 0.05%.

Brent crude, the global oil benchmark, was trading higher by 0.61% at $88.38 per barrel in futures trade.

On the domestic market front, Sensex fell 539.35 points to settle at 76,933.59, while the Nifty dropped 116.90 points to 24,090.85.

Foreign institutional investors purchased equities worth Rs 502.63 crore on a net basis on Wednesday (August 26, 2026), according to exchange data.

The rupee fell 6 paise to 95.42 against the U.S. dollar in early trade on Wednesday (August 12, 2026), weighed down by the sharp rise in Brent crude toward $90/bbl, as hopes of a quick U.S.-Iran agreement and reopening of the Strait of Hormuz faded.

Also Read: The solution to the falling rupee lies in diplomacy

Forex traders said the principal driver behind the rise in Brent crude prices is the uncertainty over the Strait of Hormuz.

Markets are increasingly sceptical about a quick U.S.-Iran agreement, while reports of attacks on shipping have renewed concerns about physical supply, they said.

At the interbank foreign exchange, the rupee opened at 95.40 before slipping further to 95.42, down 6 paise from its previous close.

On Tuesday (August 11, 2026), the rupee declined 6 paise to settle at 95.36 against the U.S. dollar. With Brent now near $90 per barrel, INR/USD at 95.50 becomes the immediate level to watch, followed by 95.80–96.00 if oil remains elevated, Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

Brent crude, the global oil benchmark, was trading higher by 1% at $89.80 per barrel in futures trade.

“Rupee opened at 95.42 with oil prices slightly down at USD 89.36 per barrel while the dollar index was at 99.83 virtually unchanged. Oil companies continue to buy U.S. dollars for their daily requirements while RBI continues to support the rupee at various levels daily,” Mr. Bhansali added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.87, up 0.05%.

“Markets are largely in wait-and-watch mode ahead of the U.S. inflation data, with the dollar receiving some support from elevated oil prices but limited by expectations that inflation may continue to moderate,” Bhansali said.

On the domestic equity market front, Sensex dipped 35.99 points to 78,097.31 in early trade, while the Nifty skid 31.15 points to 24,444.55.

Foreign institutional investors purchased equities worth ₹258.55 crore on a net basis on Tuesday (August 11, 2026), according to exchange data.

The rupee depreciated 31 paise to close at 95.67 (provisional) against the U.S. dollar on Wednesday (June 3, 2026), after the U.S. Trade Representative proposed a 12.5% additional duties on Indian imports, citing labour violations. Forex traders said strong dollar demand, surging crude oil prices, geopolitical tensions, and relentless foreign capital outflows dented investor sentiment further.

At the interbank foreign exchange market, the rupee opened at 95.43 against the U.S. dollar, then touched an intraday low of 95.80 and finally ended the session at 95.67 (provisional), down 31 paise from its previous close. On Tuesday (June 2, 2026), the rupee depreciated 17 paise to close at 95.36 against the U.S. dollar.

Forex traders said the U.S. Trade Representative’s action, amid fresh hostilities and stalled talks between the U.S. and Iran, weighed on investor sentiment. The U.S. Trade Representative has proposed 12.5% additional duties on 54 countries, including India, for failing to prohibit the import of goods produced with forced labour.

Meanwhile, the government said India is engaged with the U.S. on the Section 301 investigations over concerns related to forced labour and excess industrial capacity. The country is also “parallelly” engaged with the U.S. for finalisation of an interim trade agreement, a framework for which was announced through a joint statement on February 7.

The Office of the United States Trade Representative (USTR) launched two separate Section 301 investigations on March 11 and 12, 2026, covering 60 economies over concerns related to forced labour and excess industrial capacity. Meanwhile, market participants are now turning their attention to the Monetary Policy Committee of the Reserve Bank of India (RBI MPC) rate decision on June 5, as inflation, growth and the rupee are under focus.

The RBI Monetary Policy Committee meeting is scheduled for June 3-5. The six-member 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 99.34, up 0.13%. Brent crude, the global oil benchmark, was trading higher by 2.76% at $98.65 per barrel in futures trade.

On the domestic equity market front, Sensex dropped 303.67 points to settle at 74,346.17, while the Nifty was down 77.95 points to 23,405.60. Foreign institutional investors offloaded equities worth ₹8,362.92 crore on a net basis on Tuesday (June 2, 2026), according to exchange data.

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 depreciated 20 paise to an all-time low of 96.90 against the U.S. dollar in early trade on Wednesday (May 20, 2026) weighed down by a strong dollar and elevated crude oil prices amid simmering Iran-U.S. tensions.

Forex traders said the outflow by Foreign Institutional Investors (FIIs) and decline in equity benchmark indices also pressured the Rupee.

At the interbank foreign exchange market, the Rupee opened at 96.89 against the U.S. dollar, then slipped further to 96.90, registering a fall of 20 paise from its previous close.

On Tuesday (May 19, 2026), the Indian Rupee slumped for the eighth consecutive session and ended 50 paise down at its record low of 96.70 against the U.S. dollar. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.262, up 0.01%.

Brent crude, the global oil benchmark, was trading down 0.35% $110.59 per barrel in futures trade. On the domestic equity market front, Sensex tanked 517.11 points to 74,667.51 in early trade while Nifty dropped 152.45 points to 23,475.80.

Foreign Institutional Investors turned net sellers after three sessions of buying and offloaded equities worth ₹2,457.49 crore on Tuesday (May 19, 2026), according to exchange data.

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 45 paise to 94.67 against the U.S. dollar in early trade on Friday (May 8, 2026), as Brent crude prices rose back to $101.00 per barrel after U.S. and Iranian forces exchanged fire near the Strait of Hormuz.

Forex traders said investor sentiments were affected after Iran accused the U.S. of violating the ceasefire as the U.S. carried out retaliatory strikes with new attacks, which took place in the Strait of Hormuz and civilian areas, while President Donald Trump said the ceasefire was still in effect.

Brent oil prices, which had fallen to $98 per barrel amid the U.S.-Iran peace deal, edged higher to $101 per barrel as investors weighed the prospects for a West Asia peace deal.

At the interbank foreign exchange market, the rupee opened at 94.58 against the U.S. dollar, then lost momentum and touched 94.67 against the American currency, registering a fall of 45 paise over its previous close.

On Thursday (May 7, 2026), the rupee pared initial losses and settled the day on a positive note, up 27 paise at 94.22 against the greenback.

“Brent oil prices moved higher by more than 2% in Asian trade on Friday (May 8, 2026) after U.S. and Iranian forces exchanged fire near the Strait of Hormuz despite President Trump insisting that the month-old ceasefire remained in effect,” said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.

Mr. Bhansali further added that the rise in oil prices took USD/INR higher towards 94.43 this morning in Asian trading, and the dollar index also moved higher towards 98.22 while Asian currencies were a tad weaker.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 98.20, up 0.14%.

Brent crude, the global oil benchmark, was trading higher by 1.08% at $101.14 per barrel in futures trade.

Foreign Institutional Investors offloaded equities worth ₹340.89 crore on Thursday (May 7, 2026), according to exchange data.