The rupee fell 10 paise to 95.55 against the U.S. dollar in early trade on Friday (August 28, 2026), weighed by FII outflows and sustained disruptions in global crude oil supplies.

However, a marginally weaker greenback and a fall in global crude oil prices to levels below $90/barrel prevented a sharper decline in the local unit, forex traders said.

At the interbank foreign exchange, the rupee opened at 95.54 against the greenback before slipping further to 95.55, down 10 paise from its previous close.

The rupee pared initial gains and settled for the day lower by 1 paise at 95.45 against the U.S. dollar on Thursday.

“The rupee is expected to be in a narrow range of 95.40 to 95.60 (on Friday) with the Reserve Bank of India (RBI) protecting the upper end, while the lower end is bought by oil importers, month-end demand and importers,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

Forex traders further said market participants will closely monitor U.S. Fed Chair Kevin Warsh’s speech at the Jackson Hole Symposium.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.14, lower by 0.01%.

Brent crude, the global oil benchmark, was trading lower by 0.48% at $89.27 per barrel in futures trade.

On the domestic market front, Sensex rose 245.56 points to 77,191.80 in early trade while the Nifty was up 54.20 points to 24,147.50.

Foreign institutional investors offloaded equities worth ₹298.26 crore on a net basis on Thursday, according to exchange data.

The rupee depreciated by 14 paise to close at 94.65 (provisional) against the U.S. dollar on Tuesday (June 30), as a strengthening greenback overseas and risk-averse investor sentiment weighed on the local unit.

Forex traders said the rupee slipped to 94.58 against the U.S. dollar, driven by month-end corporate import demand and lingering risk-off sentiment. However, relatively stable global crude prices and anticipated central bank interventions supported the currency and restricted the slide.

At the interbank foreign exchange market, the rupee opened at 94.60 against the American currency and finally closed for the day at 94.65 (provisional), registering a decline of 14 paise from its previous close.

On Monday, the rupee pared initial gains and settled lower by 6 paise at 94.51 against the dollar.

“The Indian rupee depreciated for the third consecutive session, weighed down by persistent safe-haven flows into the greenback and strong corporate dollar demand. Broader risk-off sentiment across global markets continues to keep the domestic currency under pressure,” Dilip Parmar, Research Analyst, HDFC Securities, said.

Mr. Parmar further added that from a technical standpoint, spot USD/INR faces immediate resistance at 95.10, while a breakdown below 94.40 will act as key support.

Experts said month-end and quarter-end dollar demand is keeping the dollar well bid. Importers, corporates, and banks typically use this period to square positions and meet payment obligations.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 101.34, up 0.23%.

Brent crude, the global oil benchmark, was trading lower by 0.37% at $72.88 per barrel in futures trade.

On the domestic equity market front, Sensex declined 249.70 points to settle at 76,478.67, while the Nifty fell 80.50 points to 23,865.75.

Foreign institutional investors sold equities worth ₹1,350.1 crore on a net basis on Monday, according to exchange data.

Meanwhile, U.S. Ambassador to India Sergio Gor said on Tuesday (June 30) that the U.S.-India trade deal is in its “final steps”, with only the last one per cent of negotiations left to be concluded.

Addressing the U.S.-India Strategic Partnership Forum Leadership Summit, Mr. Gor said he was determined to agree, as it would be beneficial to both nations, and it would be sealed after nearly 18 months of talks.

The rupee rose 9 paise to close at 87.93 (provisional) against the U.S. dollar on Monday (October 20, 2025), supported by foreign fund inflows and lower crude oil prices.

Positive sentiments in the domestic equity markets lent further support to the local unit, according to forex traders.

At the interbank foreign exchange, the rupee opened at 87.94 against the U.S. dollar and traded in the range of 87.74-87.94 during the day before settling at 87.93 (provisional), higher by 9 paise against its previous close.

On Friday, the rupee closed at 88.02 against the U.S. dollar.

“The Reserve Bank of India ensured that the rupee opened below 88… There was no specific development on the India-U.S. trade front, while on the U.S.-China front, the talks by government officials gave hope that U.S.-China trade developments could be solved amicably,” Anil Kumar Bhansali, Executive Director, Finrex, said.

Stock exchanges will hold a special Muhurat trading session on Tuesday from 1.45 p.m. to 2.45 p.m. for Laxmi Pujan, according to notices by the BSE and the NSE.

The forex markets, however, will be closed on Tuesday and Wednesday.

“After two days’ holidays from Tuesday, the rupee is expected to be in the range of 87.70-88.30 on Thursday,” Bhansali added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, edged up 0.1% to 98.53.

Brent crude, the global oil benchmark, fell 0.36% to $61.07 per barrel in futures trade.

On the domestic equity market front, Sensex soared 411.18 points to settle at 84,363.37, while Nifty climbed 133.30 points to 25,843.15.

Foreign Institutional Investors (FIIs) purchased equities worth ₹308.98 crore on Friday, according to exchange data.

India’s forex reserves dropped by $2.176 billion to $697.784 billion during the week ended October 10, the RBI data released on Friday showed.