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 47 paise to close at 95.73 (provisional) against the U.S. dollar on Tuesday (May 26, 2026), on renewed geopolitical tensions in West Asia and a rise in crude oil prices.

Forex traders said a strong U.S. dollar and weak domestic markets also pressured the rupee. At the interbank foreign exchange market, the rupee opened at 95.43 against the U.S. dollar, and touched an intra-day high of 95.33 and a low of 95.76 against the American currency.

At the end of Tuesday’s (May 26) close, the rupee was quoted at 95.73 (provisional), down 47 paise from its previous closing. On Monday (May ), the rupee gained 34 paise to close at 95.26 against the U.S. dollar with the RBI selling dollars and keeping the rupee well bid at all upper levels.

“We expect the rupee to trade with a negative bias on uncertainty between the U.S. and Iran and concerns over military action in the West Asia.

“However, softening of crude oil prices from higher levels may support the rupee at lower levels. USD-INR spot price is expected to trade in a range of 95.20 to 95.85,” said Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan.

Forex traders said the rupee remains vulnerable to rising crude oil prices and the strength of the American currency in the overseas market.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.05, down 0.19%.

Brent crude, the global oil benchmark, was trading up 3.43% at $99.94 per barrel in futures trade after reports that the U.S. had carried out fresh attacks against Iran, offsetting hopes of a deal to reopen the Strait of Hormuz.

U.S. President Donald Trump on Monday (May 25) said negotiations with Iran to end the war were progressing “nicely”, but officials pointed out that a final decision may take some time due to the complex communication networks Tehran deploys to consult with its supreme leader.

On the domestic equity market front, Sensex dropped 479.26 points to settle at 76,009.70, while the Nifty declined 118 points to 23,913.70.

Foreign institutional investors turned net buyers and purchased equities worth ₹821.75 crore on Monday (May 25), according to exchange data.

The rupee breached the 90-a-dollar level for the first time to settle at a fresh all-time low of 90.21 (provisional) on Wednesday (December 3, 2025), down 25 paise from its previous close, amid sustained foreign fund outflows and higher crude oil prices.

Uncertainty over the India-U.S. trade deal, along with the lack of Reserve Bank of India (RBI) effort to stop the slide in the local unit, put further pressure on the rupee, according to forex traders.

At the interbank foreign exchange, the rupee opened at 89.96 against the U.S. dollar and fell to a record intraday low of 90.30 during the session before closing at a new all-time low of 90.21 (provisional), down 25 paise from its previous close.

On Tuesday (December 2, 2025), the rupee settled 43 paise down at a lifetime low of 89.96 against the U.S. dollar, largely owing to continued short-covering from speculators and sustained importer demand for the American currency.

“The rupee hit a fresh all-time low of 90.30 amid selling pressure from foreign investors and a surge in crude oil prices. Uncertainty over the announcement of India-US trade deal has also weighed on the rupee. However, a weak U.S. dollar index prevented a sharp fall,” Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan, said.

“We expect the rupee to trade with a slight negative bias on persistent FII outflows and higher crude oil prices. However, a weak dollar and rising odds of a rate cut by the Fed in December may support the rupee at lower levels,” he said, adding that the USD-INR spot price is expected to trade in a range of ₹89.80 to ₹90.50.

“The rupee was easily allowed by the RBI to cross 90, and it even fell to 90.30 before the RBI stepped in,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

Meanwhile, the seasonally adjusted HSBC India Services PMI Business Activity Index rose to 59.8 in November, from 58.9 in October, supported by new business growth.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.20% lower at 99.16.

Brent crude, the global oil benchmark, was trading 0.91% lower at $63.02 per barrel in futures trade.

On the domestic equity market front, Sensex declined 31.46 points to settle at 85,106.81, while Nifty was down 46.20 points to 25,986.

Foreign Institutional Investors sold equities worth ₹3,642.30 crore on Tuesday (December 2, 2025), according to exchange data.

The rupee depreciated 21 paise to 88.43 against the dollar in early trade on Thursday (October 30, 2025), weighed down by the strength of the American currency after Fed Chairman Jerome Powell indicated that the rate cut in December is not a given.

Forex traders said the dollar index rose to 99.05 and the 10-year yield to 4.07% despite the 25 bps rate cut by the Fed overnight.

At the interbank foreign exchange, the rupee opened at 88.37 against the U.S. dollar before dropping to 88.43, down 21 paise from its previous close.

On Wednesday (October 29, 2025), the rupee had settled at 88.22 against the U.S. dollar.

“The U.S. dollar index rose from Wednesday (October 29, 2025) to 99.02 after the Fed chair announced that another rate cut this year is ‘not a foregone conclusion’ as the dollar found support at lower levels even after the rate cut.

“Markets are also weighing the effects of the ongoing U.S. shutdown and the mixed economic signals,” 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 at 99.06.

Brent crude, the global oil benchmark, was trading 0.25% lower at $64.75 per barrel in futures trading.

U.S. President Donald Trump on Wednesday (October 29, 2025) said he respects Prime Minister Narendra Modi and that a great deal is coming with the country.

“We await the same, as on such a day the rupee will gain by 40-50 paise. Asian currencies were generally on the upside, and therefore, we expect the rupee to be bought against the dollar,” Mr. Bhansali added.

On the domestic equity market front, Sensex declined 297.96 points to 84,699.17 in early trade, while the Nifty dropped 90.05 points to 25,963.85.

Foreign institutional investors sold equities worth ₹2,540.16 crore on Wednesday (October 29, 2025), according to exchange data.

The Rupee recovered from all-time lows and settled for the day higher by seven paise at 88.28 (provisional) against the U.S. dollar on Friday (September 12, 2025), on weakness in the U.S. dollar index and positive domestic markets.

Forex traders said the domestic unit traded in a tight range and hovered around its all-time low level as tariff-led pressure on India’s exports and sustained foreign fund outflows dented investors sentiments.

India killed U.S. with tariffs, now offers ‘no tariffs’: Trump

At the interbank foreign exchange, the domestic unit opened at 88.39 and fell to an intraday low of 88.42 against the U.S. dollar during the session. The domestic unit settled for the day at 88.28 (provisional), recovering seven paise over its previous close.

On Thursday (September 11, 2025), the Rupee slumped 24 paise and closed for the day at an all-time low of 88.35 against the U.S. dollar. It had also touched the lowest-ever intraday level of 88.49 against the greenback.

“We expect the Rupee to trade with a slight positive bias on overall weakness in the U.S. dollar and rise in risk appetite in global markets on rising odds of a rate cut by Fed in its upcoming FOMC meeting next week,” said Anuj Choudhary, Research Analyst, Currency and commodities, Mirae Asset ShareKhan.

“Markets now expect a 75 bps rate cut in 2025. However, FII outflows and uncertainty over trade tariff issues between India and the U.S. may cap sharp upside,” Mr. Choudhary said, adding that traders may take cues from University of Michigan consumer sentiment data from the U.S. “The USD-INR spot price is expected to trade in a range of 88 to 88.50,” he said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.22% to 97.74. Brent crude, the global oil benchmark, was trading 0.65% higher at $66.80 per barrel in futures trade.

On the domestic equity market front, Sensex jumped 355.97 points to settle at 81,904.70, while the Nifty climbed 108.50 points to 25,114. Foreign Institutional Investors offloaded equities worth ₹3,472.37 crore on Thursday (September 11, 2025), according to exchange data.

Meanwhile, Commerce and Industry Minister Piysuh Goyal on Thursday (September 11, 2025) said that negotiations between India and the U.S. on the proposed trade agreement, which began in March, are progressing in a positive atmosphere and both the countries are satisfied with the progress.

These remarks follow the announcement by U.S. President Donald Trump that there will be “no difficulty” for the two countries to come to a successful conclusion in trade talks and he looks forward to speaking with his “very good friend” Prime Minister Narendra Modi in the coming weeks.