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.

The rupee breached the 91-a-dollar mark for the second time in a month before ending 14 paise down at 90.92 (provisional) against the greenback on Monday (January 19, 2026), as renewed concerns over global trade uncertainties accelerated foreign fund withdrawal.

Despite weak American currency and lower crude oil prices, selling pressure in domestic equities pushed the Indian currency downward, forex analysts said.

Investors were also concerned after U.S. President Donald Trump announced tariffs on European countries if they resisted his plan to control Greenland.

At the interbank foreign exchange, the rupee opened at 90.68 and slid past the crucial 91.01 against the greenback during the session. It finally settled 14 paise lower at 90.92 (provisional) against the dollar, just 1 paise above its record low closing level.

On December 16, 2025, the rupee reached its lowest intra-day level of 91.14 and its lowest closing level of 90.93 against the American currency.

On Friday,(January 16, 2026) the rupee crashed 44 paise to settle near its lowest level at 90.78 against the U.S. dollar, after losing 17 paise in the preceding two sessions.

Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, was trading 0.23% lower at 98.97.

Brent crude, the global oil benchmark, was trading 0.94% lower at $63.53 per barrel in futures trade.

On the domestic equity market front, the Sensex declined 324.17 points or 0.39% to settle at 83,246.18, while the Nifty fell 108.85 points or 0.42% to 25,585.50.

Foreign institutional investors offloaded equities worth ₹4,346.13 crore on Friday (January 16, 2026), according to exchange data.

The rupee fell 7 paise to 88.77 against the dollar in early trade on Monday (November 3, 2025), weighed down by higher crude oil prices and continuous outflow of foreign capital amid uncertainties over global trade.

According to forex traders, negative sentiment in domestic equities also pressured the Indian currency, even though a weak American currency provided some cushion at a lower level.

At the interbank foreign exchange, the rupee opened at 88.73 and slipped further to trade at 88.77 against the greenback, down 7 paise from its previous closing level.

The rupee had ended 1 paisa lower at 88.70 against the dollar on Friday, a day after crashing 47 paise on Thursday, following the commentary of U.S. Federal Reserve chair Jerome Powell.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.04% to 99.59.

Brent crude, the global oil benchmark, rose 0.31% to ₹64.97 per barrel in futures trading.

On the domestic equity market front, Sensex declined 258.83 points or 0.31% to 83,679.88 in early trade, while the Nifty fell 47.95 points or 0.19% to 25,674.15.

Foreign institutional investors sold equities worth ₹6,769.34 crore on Friday, according to exchange data.

The RBI data released on Friday showed the country’s forex reserves dropped by $6.925 billion to $695.355 billion during the week ended October 24. The reserves had increased by $4.496 billion to $702.28 billion during the previous week.

On the macroeconomic front, the Union government’s fiscal deficit stood at 36.5% of the full-year target at the end of the first half of FY26, according to data released by the Controller General of Accounts (CGA) on Friday.

In the first six months of the previous financial year, the gap between the government’s expenditure and revenue was 29% of the Budget Estimates (BE) of 2024-25.

The rupee traded almost flat at 88.78 in the early session on Friday (October 10, 2025), hovering near all-time lows against the U.S. dollar due to a stronger greenback in the overseas markets.

Forex traders said the rupee is expected to trade in a narrow range with a chance of breaking the all-time closing low level of 88.80 in the absence of RBI intervention.

At the interbank foreign exchange market, the rupee opened lower at 88.80 but soon recovered to touch 88.78 against the U.S. dollar, registering a gain of 1 paise from its previous close. On Thursday, the rupee closed at 88.79 against the greenback.

Traders said a strong U.S. dollar and importer demand weighed on the rupee. However, strength in the domestic markets and overnight decline in crude oil prices cushioned the downside.

“The RBI is expected to keep a close tab on the rupee with its watchful eyes in ensuring that for the present it does not cross 88.80,” said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP.

Meanwhile, the safe-haven demand for dollars continues keeping the dollar well bid, he noted.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.22% lower at 99.32.

Brent crude, the global oil benchmark, was trading lower by 0.18% at $65.10 per barrel in futures trading.

On the domestic equity market front, the benchmark sensitive index Sensex advanced 188.07 points to 82,360.17 in early trade, while the Nifty climbed 50.65 points to 25,232.45.

Meanwhile, Foreign Institutional Investors bought equities worth ₹1,308.16 crore on Thursday, according to exchange data.