The rupee depreciated 7 paise to 95.68 against the U.S. dollar in early trade on Tuesday (August 18, 2026), weighed down by elevated crude oil prices and persistent demand for greenback.

Forex traders said Brent crude near $91 per barrel increased oil-related dollar demand and the Reserve Bank’s earlier-than-expected closure of the concessional FCN (B) forex-swap facility raised concerns over future dollar inflows.

At the interbank foreign exchange, the rupee opened at 95.68, down 7 paise from its previous close. On Monday (August 17), the rupee depreciated 19 paise to close at 95.61 against the U.S. dollar.

The rupee opened lower as oil prices rose with the U.S. and Iran remaining at odds over the Strait of Hormuz and there was no progress on a peace deal, Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.63, down 0.01%.

Brent crude, the global oil benchmark, was trading higher by 0.52% at $91.34 per barrel in futures trade.

“Rupee looks vulnerable to the rising oil prices which have remained close to $90 and have now risen above $91 per barrel. RBI was protecting near 95.61 on Monday and may be protecting 95.75 today but will allow the depreciation to continue in view of the rising oil prices and consistent demand from oil companies,” Bhansali said.

On the domestic equity market front, Sensex was trading down 278.32 points to 77,450.64 in early trade; while the Nifty fell 57.65 points to 24,230.45.

Foreign institutional investors offloaded equities worth ₹2,535.10 crore on a net basis on Monday (August 17), according to exchange data.

The rupee weakened 12 paise to 96.42 against the U.S. dollar in early trade on Monday (July 20, 2026) due to a surge in crude oil prices and strong demand for the American currency amid the worsening West Asia crisis.

Foreign capital outflows from domestic equity markets also weighed on the Indian currency, forex traders said.

At the interbank foreign exchange, the rupee opened lower at 96.53 against the previous close of 96.30 to the dollar. The local unit pared some losses to trade at 96.42 later, down 12 paise from its previous close.

On Friday (July 17, 2026), the rupee gained 12 paise to settle at 96.30 against the U.S. dollar, supported by positive domestic market sentiment and a decline in U.S. Treasury yields.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading marginally down by 0.05% at 100.54.

Brent crude, the global oil benchmark, was trading 2.45% higher at $90.26 per barrel in futures trade, as the U.S. and Iran have inched closer to all-out war, as last month’s interim deal meant to permanently end the fighting has crumbled and shipping traffic in the Strait of Hormuz has largely stalled.

The United States conducted a new round of airstrikes early on Monday (July 20, 2026) targeting Iran after announcing the death of another American service member, and Iran fired missiles towards Jordan that risked widening the conflict into neighbouring Israel.

Meanwhile, Bahrain sounded its missile alert sirens Monday morning (July 20, 2026), warning of an Iranian retaliatory attack after U.S. airstrikes targeted the Islamic Republic.

On the domestic equity market front, the Sensex tumbled 593.78 points, or 0.76%, to 77,557.67, while the Nifty declined 169.20 points, or 0.70%, to 24,165.10.

Foreign Institutional Investors offloaded equities worth ₹376.41 crore on a net basis on Friday (July 17, 2026), according to exchange data.

The Reserve Bank data released on Friday (July 17, 2026) showed India’s forex reserves jumped $964 million to $675.157 billion in the week ended July 10. In the previous reporting week, the overall kitty had jumped by $7.26 billion to $674.193 billion.

The rupee fell 19 paise to 94.75 against the American currency in early trade on Wednesday (July 1, 2026), weighed down by the strength of the American currency in the overseas market.

Forex traders said whenever fresh foreign inflows enter the country, the central bank is likely to use the opportunity to rebuild its reserve position rather than allowing the rupee to strengthen too much.

Moreover, uncertainty prevailed over the progress of U.S.-Iran peace talks keeping a geopolitical risk premium in the market.

At the interbank foreign exchange market, the rupee opened at 94.67, then touched 94.75 against the U.S. dollar, registering a loss of 19 paise from its previous close.

On Tuesday (June 30, 2026), the rupee depreciated by 5 paise to close at 94.56 against the U.S. dollar.

“The global dollar is also adding pressure. After the U.S. Federal Reserve maintained a cautious stance in its latest policy meeting, the Dollar Index has continued to hold above the 101 mark,” CR Forex Advisors MD Amit Pabari said.

As long as the dollar stays firm globally, the rupee is likely to remain under pressure, he added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 101.34, up 0.15%.

Meanwhile, Brent crude, the global oil benchmark, was trading higher by 0.38% at $73.23 per barrel in futures trade.

According to Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, continued normalisation of oil flows through the Strait of Hormuz following the U.S.-Iran ceasefire and diplomatic engagement kept it at the lower side at $73.15 per barrel this morning as uncertainty over the progress of U.S.-Iran peace talks kept a risk premiums in the market.

On the domestic equity market front, Sensex climbed 182.42 points to 76,661.36 in early trade, while the Nifty was up 49.90 points to 23,916.85.

Foreign institutional investors sold equities worth ₹2,556.75 crore on a net basis on Tuesday (June 30, 2026), according to exchange data.

On the domestic macroeconomic front, India’s fiscal deficit touched 9.6% of the FY27 budget target at the end of May, government data showed on Tuesday (June 30, 2026).

The fiscal deficit, or gap between the government’s expenditure and revenue, was ₹1.62 lakh crore in value terms at the end of May 2026, data released by the Controller General of Accounts (CGA) showed.

The rupee depreciated 15 paise to 94.48 against the U.S. dollar in early trade on Monday (June 22, 2026), weighed down by the strength of the American currency in the overseas market.

Forex traders said the rupee witnessed volatility as steady debt and deposit inflows pulled the domestic currency in one way, while a nervous Middle East and a firm dollar pulled it the other way.

At the interbank foreign exchange market, the rupee opened at 94.42, registering a decline of 9 paise from its previous close.

In initial trade it also touched 94.24 against the American currency.

On Friday (June 19, 2026), the rupee pared most of its initial gains and settled higher by 7 paise at 94.33 against the U.S. dollar.

“Technically, the 94.00–94.20 zone continues to act as a key support area, while 94.80–95.00 remains the immediate resistance band. With debt inflows showing signs of improvement and oil prices staying relatively contained, the bias remains mildly in favour of rupee appreciation, with USD/INR potentially drifting towards the 94.00–93.80 zone,” CR Forex Advisors MD – Amit Pabari said.

On the global front, high-level Iran war talks in Switzerland ended on Monday (June 22, 2026) with lower-level talks planned for the rest of the week as Iran and the United States agreed to create a “de-confliction cell” to address the fighting in Lebanon.

The talks marked the start of a 60-day diplomatic process that seeks to reach a permanent deal to end the Iran war.

Meanwhile, Iran insisted it had again shut the Strait of Hormuz over the weekend, the narrow mouth of the Persian Gulf crucial to energy shipments, while the U.S. said traffic continued.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 0.02% up at 100.87, amid hawkish FED and the fragile U.S.-Iran trade deal.

Brent crude, the global oil benchmark, was trading lower by 1.28% at $79.54 per barrel in futures trade.

“Brent oil was very near to $79 per barrel as talks between the U.S. and Iran were progressing, while Iran had closed the Strait of Hormuz,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

On the domestic equity market front, Sensex climbed 407.12 points to 77,210.02 in early trade, while the Nifty surged 114.75 points to 24,129.95.

Foreign institutional investors turned buyers on Friday (June 19, 2026), purchasing equities worth ₹4,859.07 crore on a net basis, according to exchange data.

The rupee rose 58 paise against the greenback to 94.60 in early trade on Monday (June 15, 2026) as global crude oil prices dropped sharply after U.S. President Donald Trump announced that the U.S. and Iran finalised a deal to end the war.

A strong start to the day at the domestic equity markets and a weaker U.S. dollar further drove the local unit, forex traders said.

At the interbank foreign exchange, the rupee opened at 94.70 against the U.S. dollar before rising further to 94.60, up 58 paise from its previous close.

The rupee surged 67 paise to close at 95.18 against the greenback on Friday.

The U.S. and Iran finalised a deal to end their 107-day war and open the Strait of Hormuz, the narrow waterway used to ferry one-fifth of the global oil supplies, on Friday after an in-person signing of the agreement in Switzerland.

U.S. President Donald Trump made the announcement on Truth Social on Sunday evening, easing pressure on the global energy markets, as officials said the peace agreement would be signed on June 19 in Switzerland.

“Rupee movement today will be significantly influenced by the peace deal between U.S. and Iran and the consequent crash in Brent crude. This means India’s balance of payments problem for FY27 is no longer a serious issue,” V K Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.

“Rupee started appreciating from the low of 96.96 to the dollar touched on May 20. Today the appreciating trend will continue and the rupee is likely to trade in the 94.80 to 94.60 range with scope for further appreciation in the coming days,” Vijayakumar added.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.53, down 0.22%.

Brent crude, the global oil benchmark, was trading lower by 4.66% at $83.26 per barrel in futures trade.

On the domestic equity market front, Sensex surged 1,112.70 points to 76,648.74 in early trade, while Nifty rose sharply by 335.55 points to 23,956.40.

Foreign institutional investors offloaded equities worth ₹1,082.18 crore on a net basis on Friday, according to exchange data.

India’s forex reserves dropped $711 million to $681.610 billion during the week ended June 5 due to a sharp decline in foreign currency reserves, the RBI said on Friday.

The rupee hit a record low on Friday (December 12, 2025), as sentiment remained bogged down by the absence of a trade deal with the U.S. and portfolio outflows, drawing likely intervention by the Reserve Bank of India (RBI) to curb the fall.

The rupee weakened to ₹90.55 against the U.S. dollar, slipping past its previous all-time low of ₹90.4675 hit on December 11. The currency was last at ₹90.3475 as of 10:00 a.m., little changed on the day.

The rupee is Asia’s worst performer this year. It has fallen nearly 6% against the dollar year-to-date, as steep U.S. tariffs of up to 50% on Indian goods hurt exports to its biggest market, while also diminishing the appeal of local equities for foreign investors.

With negotiations ongoing, Prime Minister Narendra Modi said he spoke with U.S. President Donald Trump by phone on Thursday (December 11), as New Delhi seeks relief from 50% U.S. tariffs.

“The rupee weakness has further to go if tariffs are here to stay. The expectations are currently one-sided explaining importer demand while exporters remain missing, plus the pressure from portfolio outflows,” said Dhiraj Nim, an economist and FX strategist at ANZ.

“The RBI will be open to weakness but in a calibrated manner,” he said.

Foreign investors have net sold $18 billion of Indian shares in 2025 so far, making it one of the hardest-hit markets in terms of portfolio outflows.

Traders pointed to firm dollar bids in the non-deliverable forwards market alongside hedging demand from importers as factors behind the rupee’s decline on Friday (December 12).

The Central Bank, meanwhile, likely stepped in via dollar sales through state-run banks to curb the rupee’s fall, four traders told Reuters.

“As the rupee touches an all-time low and remains near it, we continue with our process of asking exporters to continue selling (dollars) in cash and importers to keep buying the dollars on the dip (in USD/INR),” said Anil Bhansali, head of treasury at Finrex Treasury Advisors.

Asian currencies were trading mixed while the dollar index wallowed near a two-month low.

According to analysts and bankers, U.S. trade negotiations remain the focal point for the rupee, and a breakthrough could help the currency snap from its recent falling streak.

The rupee’s rough patch has also pushed into undervaluation territory.

The currency’s trade-weighted real effective exchange rate, which accounts for the variation in inflation with trading partners, declined to 97.47 as of October, RBI data showed. A reading below 100 signals undervaluation.

The rupee traded in a narrow range against the U.S. dollar in early trade on Monday (December 1, 2025), as the support from positive domestic equities was negated by elevated crude oil prices and foreign fund outflows.

Forex traders said significant dollar demand by importers has exerted persistent downward pressure on the local currency.

Moreover, investors are adopting a cautious stance amid ongoing trade tensions with the U.S., with expectations of a settlement towards the end of the year.

At the interbank foreign exchange market, the rupee opened at 89.45. It slipped further to trade at 89.46 against the greenback in initial deals, registering a loss of 1 paisa from its previous closing level.

On Friday (November 28), the rupee dropped nine paise to settle at 89.45 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was 0.02% lower at 99.44.

Brent crude, the global oil benchmark, rose 1.57% to $63.35 per barrel in futures trade.

“In the near term, USD/INR will likely move within the 88.90–89.80 range, with 88.80–89.00 acting as a strong support area,” CR Forex Advisors MD Amit Pabari said.

If India–U.S. trade ties improve even slightly, the rupee could move toward the stronger side of this band. A clear break below 88.80 would be the first sign that the rupee may start strengthening more steadily, Mr. Pabari added.

On the domestic equity market front, Sensex and Nifty hit fresh lifetime highs in early trade. The Sensex was trading 315.87 points or 0.37% higher at 86,022.54, while Nifty went up 82.55 points or 0.32% to 26,287.20.

Foreign institutional investors sold equities worth ₹3,795.72 crore on a net basis on Friday (November 28), according to exchange data.