The rupee depreciated 9 paise to 95.17 against the U.S. dollar in early trade on Thursday (August 6, 2026) as the support from lower crude oil prices were offset by lingering geopolitical risks.

At the interbank foreign exchange market, the rupee opened at 95.13, then touched 95.17 against the American currency, registering a fall of 9 paise from its previous close.

On Wednesday, the rupee settled at 95.08 against the American currency.

“For now the rupee finds itself caught between encouraging diplomatic headlines and lingering geopolitical risks.. Positive developments around Hormuz could help it revisit the 94.80–95.00 zone,” said CR Forex Advisors MD Amit Pabari.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 0.05% higher at 99.72.

Brent crude, the global oil benchmark, was trading 0.20% lower at $79.29 per barrel in futures trade.

On the domestic equity market front, Sensex climbed 201.43 points to 78,782.43 in opening trade, while Nifty was marginally up by 16.35 points to 24,641.

Foreign institutional investors turned to selling and offloaded equities worth ₹943.42 crore on a net basis on Wednesday, according to exchange data.

The rupee depreciated 32 paise to an all-time low of 95.20 against the U.S. dollar in early trade on Thursday (April 30, 2026), weighed down by elevated Brent crude oil prices, hovering around $122 per barrel, and strong American currency.

Forex traders said the USD/INR pair may see further downside, as rising crude oil prices are likely to sharply impact India’s import costs, while concerns over potential wider conflict in West Asia are fuelling investor anxiety.

Meanwhile, the U.S. dollar added to gains after the US FED Reserve kept rates unchanged. Safe-haven demand was also boosted by another diplomatic setback between Washington and Tehran.

At the interbank foreign exchange market, the rupee opened at 95.01 against the U.S. dollar, then lost some ground and touched an all-time low of 95.20 against the U.S. dollar in initial trade, registering a fall of 32 paise over its previous close.

On Wednesday (April 29), 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 0.01% higher at 98.96.

Brent crude, the global oil benchmark, was trading higher by 3.16% at $121.76 per barrel in futures trade.

On the domestic equity market front, Sensex tumbled 821.79 points to 76,674.57 in early trade, while the Nifty dived 287.3 points to 23,890.35.

Foreign Institutional Investors offloaded equities worth ₹2,468.42 crore on Wednesday, according to exchange data.