The rupee appreciated 20 paise to 94.79 against the U.S. dollar in early trade on Friday (October 16, 2026) on the softening of the American currency and the positive impact of the RBI’s structural forex interventions.

Lower U.S. Treasury yields also supported the domestic currency. However, elevated crude oil prices and a decline in equity markets restricted the rupee’s sharp gains.

Also Read: Explained | RBI’s worries about pressure on rupee and measures to curb volatility in forex market

In the interbank foreign exchange market, the rupee opened at 94.75, touched 94.79, and gained 20 paise from its previous close.

On Thursday (October 15), the rupee had appreciated 18 paise to close at 94.99 against the U.S. dollar.

“ Decline in the dollar index and softening of U.S. Treasury yields also supported the rupee. However, a surge in crude oil prices capped sharp gains. On the data front, U.S. PPI (Producer Price Index) was hotter than expected. At the same time, retail sales topped forecast. Weekly unemployment claims were in line with expectations,” said Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.54% at 102.

Brent crude, the global oil benchmark, was trading lower by 0.54%t at $105.35 per barrel in futures trade.

On the domestic equity market front, Sensex declined 113 points to 74,187 in early trade, while Nifty dipped 27.20 points to 22,967.15.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,285.37 crore on a net basis on Thursday (October 16), according to exchange data.

The rupee declined 4 paise to 96.39 against the U.S. dollar in early trade on Tuesday (October 6, 2026) over a rise in crude oil prices and sustained FII outflows.

However, positive sentiment in domestic equity markets and a weaker dollar index cushioned the local unit from further decline, forex traders said.

Also Read: Why is the Indian rupee falling?

At the interbank foreign exchange, the rupee opened at 96.29 but fell to 96.39, down 4 paise from its previous close.

The rupee depreciated 10 paise to close at 96.35 against the U.S. dollar on Monday (October 6).

“The Reserve Bank has been protecting the rupee from its fall at 96.33, but the demand for the dollar from FPIs and oil companies has not come down despite oil falling to $100.63 per barrel and the dollar index to 102.12,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

The Reserve Bank’s Monetary Policy Committee began its three-day meeting on Monday (October 5) and is likely to raise rates by 25 basis points, aligning with central banks’ hawkish stance amid escalating conflict in West Asia, which poses risks to domestic inflation.

The last repo rate hike was in February 2023, when the RBI raised the rate by 0.25% to 6.50%. It kept the rate unchanged through 2023-24 before beginning its rate-cut cycle in 2025. Currently, the RBI’s policy repo rate stands at 5.25%.

Meanwhile, the dollar index, which gauges the strength of the greenback against a basket of six currencies, was trading at 102.12, lower by 0.04%.

Brent crude, the global oil benchmark, was trading higher by 0.23% at $100.6 per barrel in futures trade.

On the domestic equity market front, Sensex advanced 120.22 points to 72,535.41 in early trade, while Nifty also rose 47.15 points to 22,603.10.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,699.14 crore on a net basis on Monday (October 5), according to exchange data.

The rupee depreciated 16 paise and slumped below the psychologically important 96 per dollar level in early trade on Tuesday (September 29, 2026), weighed down by elevated crude oil prices and persistent foreign fund outflows.

Forex traders said the rupee is under pressure largely due to the combination of firm oil and rising U.S. nominal and real yields, which together are drawing portfolio flows out of emerging markets, including India.

At the interbank foreign exchange market, the rupee opened at 96.03, then fell to 96.13 against the U.S. dollar, registering a fall of 16 paise from its previous close. On Monday (September 28), the rupee had settled at 95.97 against the American currency.

“We could see 96.50 in the coming days, and a clear break above 96.50 would open the door towards 98. Major support is now at 95.50.

“The domestic picture remains a source of strength — industrial output grew 8% in August — and the Reserve Bank has completed a large programme of bond sales this month with strong demand, which keeps the adjustment orderly,” said Anindya Banerjee, Head of Commodity and Currency Research, Kotak Securities.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 101.23, higher by 0.04%.

Brent crude, the global oil benchmark, was trading higher by 1.51% at $106.87 per barrel in futures trade amid concerns over disruptions to crude supplies through the Strait of Hormuz.

On the domestic equity market front, Sensex tanked 503 points to 72,260.09 in early trade, while the Nifty dropped 151 points to 22,626.50.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,353.22 crore on a net basis on Monday (September 28), according to exchange data.

The rupee fell 28 paise to close at 94.84 (provisional) against the American currency on Tuesday (September 8, 2026) as geopolitical tensions in West Asia and rising Brent crude prices nearing $99 per barrel weighed on investor sentiment.

Forex traders said the Indian rupee declined on a surge in crude oil prices amid fresh attacks on Aramco’s facilities by Yemen’s Houthis.

Moreover, rising geopolitical tensions in West Asia and a weak trend in domestic equities further pressured the rupee.

At the interbank foreign exchange market, the rupee opened at 94.49 against the U.S. dollar. The local unit touched an intraday high of 94.49 and a low of 94.89. The rupee finally settled at 94.84 (provisional), down 28 paise from its previous close.

On Monday (September 7), the rupee fell 13 paise to close at 94.56 against the American currency.

“We expect the rupee to trade with a slight negative bias on the escalation of tensions in West Asia and worries over rising crude oil prices. Risk aversion in global markets may also pressurise the rupee.

“However, a weak dollar and foreign inflows may support the rupee at lower levels. Investors may now focus on inflation data from the U.S. and India. USD-INR spot price is expected to trade in a range of 94.60 to 95.10,” Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan, said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 98.96, lower by 0.21%.

Brent crude, the global oil benchmark, was trading higher by 1.39% at $98.35 per barrel in futures trade.

According to forex traders, elevated crude oil prices, with Brent remaining near the $97 per barrel mark, along with the absence of any significant resolution to ongoing geopolitical uncertainties, kept investor sentiment cautious.

On the domestic equities market front, Sensex tanked 555.23 points to settle at 75,577.58, while the Nifty dropped 144.05 points to 23,635.10.

Foreign institutional investors (FIIs) purchased equities worth ₹280.13 crore on a net basis on Monday (September 7), according to exchange data.

The rupee traded in a narrow range and rose 7 paise to 95.64 against the American currency in early trade on Monday (August 24, 2026), supported by a softer U.S. dollar, but simmering geopolitical tensions kept it from making strong gains.

Forex traders said the Dollar Index has weakened, but elevated Brent crude and persistent importer demand limited the rupee’s gains.

Moreover, investors are treading a cautious path as Washington is set to unveil a fresh wave of sanctions on Iran, targeting its oil trade, banking network and shipping routes.

At the interbank foreign exchange, the rupee opened at 95.68, then rose to 95.64, higher by 7 paise from its previous close.

On Friday (August 21, 2026), the rupee settled higher by just 3 paise at 95.71 against the U.S. dollar.

“The worry for markets isn’t just Iran; it’s who else gets caught in the crossfire, since several major economies continue to engage with Iranian trade in some form. Until the details are out this evening, oil and currency markets are likely to stay cautious,” CR Forex Advisors MD Amit Pabari said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 98.82, higher by 0.03%.

Brent crude, the global oil benchmark, was trading lower by 1.32% at $93.14 per barrel in futures trade.

On the domestic market front, Sensex climbed 202.42 points to 77,744.15 in early trade, while the Nifty was trading up 55.35 points at 24,309.

Foreign institutional investors offloaded equities worth ₹542.71 crore on a net basis on Friday (August 21), according to exchange data.

India’s forex reserves jumped $9.905 billion to $716.907 billion during the week ended August 14, the Reserve Bank of India (RBI) said on Friday (August 21).