The rupee rose 5 paise to 96.11 against the U.S. in early trade on Wednesday (July 15, 2026), amid heightened tensions in West Asia and a weaker greenback.

Higher crude oil prices and Foreign Institutional Investor outflows prevented a sharper rise in the local unit while a positive opening in the domestic equity markets lent support, forex traders said.

At the interbank foreign exchange market, the rupee opened at 96.12 and inched up to 96.11, up 5 paise from its previous close.

The unit depreciated 48 paise to close at 96.16 against the U.S. dollar on Tuesday (July 14, 2026).

Iran on Wednesday (July 15, 2026), threatened to halt all energy exports from West Asia over the U.S. reimposing a naval blockade on the Islamic Republic.

In a statement carried by the Iranian state television, the paramilitary Revolutionary Guard threatened oil and gas exports from the region. “The export of oil and gas from the region will be either for everyone or for no one,” it said.

“The rupee came under significant pressure on Tuesday (July 15, 2026), slipping past the 96-level for the first time since May as a combination of surging crude oil prices, higher U.S. Treasury yields, and geopolitical tensions triggered broad dollar demand. Brent climbed to its highest level in over a month after the US-Iran conflict intensified,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

The rupee is set to trade in the range of 95.90-96.50, he said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 100.81, down 0.11%.

Brent crude, the global oil benchmark, rose by 1.10% to $85.66 per barrel in futures trade.

On the domestic equity market front, stock markets rebounded in early trade with the Sensex rising 553 points to 77,603.57 and the Nifty up 148.15 points to 24,198.40.

Foreign Institutional Investors on Tuesday (July 14, 2026), offloaded equities worth ₹739.69 crore in the domestic equity market, according to exchange data.

On the domestic macroeconomic front, wholesale price inflation shot up to 9.87% in June, from 9.68% in May, led by a sharp spike in prices of food and non-food items.

Net direct tax collection grew 16.40% to over ₹6.51 lakh crore till July 13 this fiscal year, driven by higher corporate tax mop-up, government data showed on Tuesday (July 14, 2026).

The rupee appreciated 12 paise to 88.04 against the U.S. dollar in early trade on Tuesday (September 16, 2025) as investors are awaiting cues from the U.S.-India trade talks in New Delhi, where American negotiator Brendan Lynch will meet Indian officials on Tuesday (September 16, 2025).

Forex traders said the rupee has faced persistent pressure from uneven flows and U.S. President Donald Trump’s tariff shocks.

Accordingly, the Reserve Bank of India has stepped up its presence in the offshore non-deliverable forward (NDF) market to cushion volatility, they said.

At the interbank foreign exchange market, the rupee opened at 88.05 against the U.S. dollar, then touched 88.04, registering a gain of 12 paise from its previous close.

In the initial trade, the domestic unit also touched 88.16 against the greenback.

On Monday (September 15, 2025), the rupee settled higher by 10 paise at 88.16 against the U.S. dollar.

“The key catalyst this week will be U.S.-India trade talks in New Delhi,” CR Forex Advisors MD Amit Pabari said, adding that “if the discussions make real progress, it could open the door to a breakthrough and give the rupee much-needed support, especially with India’s fundamentals already showing strength.”

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 97.22, lower by 0.08%.

Brent crude, the global oil benchmark, was trading 0.25% higher at $67.61 per barrel in futures trade.

On the domestic equity market front, Sensex climbed 201.69 points to 81,987.43 in early trade, while the Nifty was up 52.8 points to 25,122.

Foreign Institutional Investors offloaded equities worth ₹1,268.59 crore on a net basis on Monday (September 15, 2025), according to exchange data.

Meanwhile, the Trump administration’s chief negotiator Brendan Lynch will hold a day-long talk on the India-U.S. bilateral trade deal on Tuesday (September 16, 2025).

Five rounds of negotiations for the India-U.S. Bilateral Trade Agreement (BTA) have been held, and the sixth round of talks, scheduled from August 25-29, was postponed following the imposition of 50% tariffs on Indian goods by the U.S.

India’s exports have been affected following the imposition of 50% tariffs on shipments to the U.S.

Last week, Prime Minister Modi had reacted warmly to U.S. President Donald Trump’s positive assessment of trade talks between the two countries, expressing confidence that the ongoing negotiations will pave the way for unlocking the limitless potential of the partnership between them.

The rupee rose 15 paise to 87.73 against the U.S. dollar in early trade on Wednesday (August 6, 2025) amid a weakening greenback as markets awaited the outcome of the Reserve Bank’s MPC meet.

However, a rise in global Brent crude prices and FII outflows capped further gains in the local unit, forex traders said, adding that markets continued to wait for the outcome on the U.S. tariffs.

At the interbank foreign exchange, the domestic unit opened at 87.72 against the U.S. dollar before dipping marginally to 87.73, registering a rise of 15 paise from its previous close.

The rupee revisited its all-time low level and ended with a loss of 22 paise at 87.88 against the U.S. dollar on Tuesday (August 5, 2025), as risk-off sentiment deepened after U.S. President Donald Trump renewed threats to raise tariffs on Indian goods over New Delhi’s continued purchases of Russian oil.

Meanwhile, Reserve Bank of India (RBI) Governor Sanjay Malhotra-headed rate-setting panel, which started the three-day deliberations to decide the next bi-monthly monetary policy on Monday (August 4, 2025), is scheduled to announce the policy rate on Wednesday (August 6, 2025).

“The rupee which made a closing low on Tuesday (August 5, 2025) was well protected by RBI… and we wait to watch how long RBI protects it as Mr. Trump clamours to put additional tariffs on India today as no solution has emerged between the two countries,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

“If no solution emerges between the two countries in buying Russian oil, then the tariffs will come. Till then, we may expect the rupee to remain range-bound with RBI protecting 88 and FPIs continuing to buy dollars,” he said.

Meanwhile, Brent crude prices rose 0.62% to $68.06 per barrel in futures trade.

“Russian Crude buyer sanctions continued to remain in focus. The U.S. may hit all such buyers like India and China with tariffs as he continued his threat on Tuesday (August 5, 2025). If China and India stop their purchases of Russian oil, it will tighten global supplies, and this notion has offered oil some support,” Bhansali added.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was down 0.07% to 98.71.

In the domestic equity market, the 30-share BSE Sensex rose 113.41 points to 80,823.66 in early trade, while Nifty was up 19.20 points to 24,668.75.

Foreign institutional investors (FIIs) offloaded equities worth ₹22.48 crore on a net basis on Tuesday (August 5, 2025), according to exchange data. Foreign institutional investors (FIIs) offloaded equities worth ₹22.48 crore on a net basis on Tuesday, according to exchange data.