The rupee depreciated 19 paise to close at 95.61 (provisional) against the U.S. dollar on Monday (August 17, 2026), amid weak domestic equity markets and a surge in crude oil prices.

Forex traders said the USD/INR pair is likely to trade with a slight negative bias, pressured by the delay in the deal between the U.S. and Iran, rising crude oil prices and broader dollar support.

Moreover, investors’ sentiment turned cautious after the Reserve Bank of India on August 14 said that its swap facility for FCNR (B) deposits will be available only for deposits mobilised till August 31.

At the interbank foreign exchange market, the rupee opened at 95.50 against the greenback and traded in a range of 95.49-95.62 during the session. It eventually settled at 95.61 (provisional), lower by 19 paise from its previous close.

On Friday (August 14, 2026), the rupee appreciated 3 paise to close at 95.42 against the U.S. dollar. Earlier, the cut-off date for Foreign Currency Non-Resident (Bank) or FCNR (B) deposits was September 30.

Under the FCNR (B) scheme, banks offer attractive interest rates to mobilise foreign currency deposits.

The Reserve Bank on Friday (August 14) said its concessional swap facility, introduced to encourage foreign currency inflows, has attracted $56.84 billion till August 13.

The Indian rupee declined on weak domestic markets and a surge in crude oil prices. However, a soft dollar cushioned the downside, Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan said, adding, “We expect the rupee to trade with a slight negative bias on the delay in the deal between the U.S. and Iran and rising crude oil prices.” Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.40, down 0.26%.

Brent crude, the global oil benchmark, was trading higher by 0.99% at $89.40 per barrel in futures trade.

On the domestic equity market front, Sensex dropped 281.09 points to settle at 77,728.16, while the Nifty closed lower by 78.35 points at 24,287.65.

Foreign institutional investors purchased equities worth ₹508.12 crore on a net basis on Friday (August 14), according to exchange data.

Meanwhile, India’s forex reserves jumped by $14.136 billion to $707.002 billion during the week ended August 7, the Reserve Bank said on Friday (August 14). The overall kitty had jumped by $10.512 billion to $692.866 billion in the previous reporting week ended July 31.

The rupee settled just 3 paise higher at 95.33 (provisional) against the U.S. dollar on Wednesday (August 12), as hopes of a quick U.S.-Iran agreement and reopening of the Strait of Hormuz faded.

Forex traders said Brent crude is moving towards $90 per barrel amid risk aversion in global markets.

At the interbank foreign exchange market, the rupee opened at 95.40 against the greenback and traded in a range of 95.24-95.43 during the session. It eventually settled at 95.33 (provisional), higher by 3 paise from its previous close.

On Tuesday (August 11), the rupee declined 6 paise to settle at 95.36 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.85, up 0.03%, largely on the back of oil-related uncertainty.

Brent crude, the global oil benchmark, was trading higher by 0.07% at $88.97 per barrel in futures trade. According to traders, the U.S. CPI print is a key factor for the USD/INR pair.

A hotter-than-expected CPI would strengthen expectations of a September Fed rate hike, pushing yields and the dollar higher.

“This could put further pressure on the rupee, while a softer reading could ease rate-hike expectations and support the rupee,” CR Forex Advisors MD- Amit Pabari said.

On the domestic equity market front, Sensex declined 187.90 points to settle at 77,966.35, while Nifty dipped 35.75 points to 24,435.95.

Foreign institutional investors purchased ₹258.55 crore worth of equities on a net basis on Tuesday (August 11), according to exchange data.

Meanwhile, Fitch Ratings on Tuesday (August 11) retained India’s sovereign credit rating at ‘BBB-‘ for the 20th year in a row, but flagged risks of pressure on fiscal spending amid youth protest over jobs.

Fitch said despite headwinds from the energy shock due to the West Asia conflict, India’s economy remains strong with a robust growth outlook and solid external finance fundamentals.

The rupee gained 28 paise to 96.25 against the U.S. dollar in early trade on Monday (July 27, 2026), taking cues from a sharp fall in crude oil prices and positive global sentiment after the U.S. and Iran signalled an easing of tensions in West Asia.

The American currency index also retreated from an elevated level, while domestic equities witnessed a strong buying trend, supporting the local currency further, forex traders said.

At the interbank foreign exchange, the rupee opened at 96.18 but lost some ground to trade at 96.28 against the greenback, logging a gain of 28 paise from its previous closing level.

On Friday (July 24), the rupee recovered from a low level and settled 20 paise higher at 96.53 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading down 0.26% at 101.04.

Brent crude, the global oil benchmark, was trading 4.17% lower at $92.74 per barrel in futures trade.

Analysts attributed the recovery in crude prices to the easing of tensions in West Asia as the U.S. and Iran paused strikes against each other.

U.S. President Donald Trump is “giving talks some space”, Mike Waltz, the U.S. ambassador to the United Nations, told Fox News.

“He’s giving it a little bit of room,” Mr. Waltz said, adding, “We’ve had both Oman and Iran, and a number of our other negotiators, engaged at every level, from the most senior levels all the way down to the technical level over the past few weeks, and particularly in the past few days.”

On the domestic equity market front, Sensex rose 613.80 points, or 0.81%, to 76,673.57, while the Nifty climbed 165.40 points, or 0.70%, to 23,931.55.

Foreign Institutional Investors offloaded equities worth ₹3,892.77 crore on a net basis on Friday (July 24), according to exchange data.

The rupee depreciated 34 paise to close at 94.67 (provisional) against the U.S. dollar 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 the lack of clarity on the West Asia peace deal 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 intraday trade, the rupee traded in the range of 94.24 to 94.76.

At the end of Monday’s (June 22) trading session, the USD/INR was quoted at 94.67 (provisional), lower by 34 paise over its previous close.

On Friday (June 19), the rupee pared most of its initial gains and settled higher by 7 paise at 94.33 against the U.S. dollar. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 100.88, up 0.03%, amid hawkish Fed and the fragile U.S.-Iran trade deal.

Brent crude, the global oil benchmark, was trading lower by 1.75% at $79.16 per barrel in futures trade. On the domestic equity market front, Sensex climbed 291.17 points to settle at 77,094.07, while Nifty was up 89.80 points to 24,102.90.

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

On the global front, high-level Iran war talks in Switzerland ended on Monday (June 22) 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 passage of the Persian Gulf crucial to energy shipments, while the U.S. said traffic continued.

The rupee appreciated 5 paise to 94.53 against the U.S. dollar in early trade on Tuesday (June 16, 2026), as a sharp decline in oil prices and easing West Asia tensions have shifted the near-term bias in favour of the domestic unit.

Forex traders said the immediate threat to global energy supplies has significantly reduced, following the easing of tensions in the West Asia.

Brent crude fell more than 6%, moving closer to the $82 per barrel mark. For India, which imports nearly 90% of its oil requirements, lower crude prices are often like a favorable wind behind a ship supporting the rupee.

At the interbank foreign exchange market, the rupee opened at 94.69, then gained momentum and touched 94.53 in initial trade, registering a rise of 5 paise from its previous close.

On Monday (June 15), the rupee strengthened 60 paise to settle at 94.58 against the U.S. dollar. Forex traders said with oil prices moving in India’s favor and foreign inflows remaining supportive, the near-term outlook for the rupee remains positive.

“The sharp decline in oil prices and easing West Asia tensions have shifted the near-term bias in favour of the rupee. With expectations of strong foreign capital inflows and USD-INR having decisively broken below the 94.80 level, the pair could gradually move towards the 94.00–93.80 zone in the coming days,” 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 99.69, higher by 0.06%.

Brent crude, the global oil benchmark, was trading down 0.24% at $82.97 per barrel in futures trade. On the domestic equity market front, Sensex climbed 272.87 points to 76,537.20 in early trade, while the Nifty was up 69.15 points to 23,921.55.

Foreign institutional investors turned buyers, purchasing equities worth ₹200.05 crore on a net basis on Monday (June 15), according to exchange data.

Meanwhile, the U.S. and Iran have 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 (June 12) after an in-person signing of the agreement in Switzerland.

U.S. President Donald Trump announced Truth Social on Sunday (June 14) evening, easing pressure on the global energy markets, as officials said the peace agreement would be signed on June 19 in Switzerland.

Domestic developments also added support to the USD/INR pair. India’s merchandise trade deficit narrowed slightly to $28.21 billion in May, as stronger exports helped offset import costs despite a challenging global environment marked by volatile energy prices and trade negotiations.

The rupee depreciated 56 paise to settle at 95.74 (provisional) against the American currency on Monday (June 8, 2026), pressured by elevated crude oil prices and the strength of the U.S. dollar in the overseas market due to higher risk aversion amid escalating geopolitical tensions.

Forex traders said the USD/INR pair erased the previous trading session’s gains on risk aversion in global markets. Further, a sharp jump in crude oil prices and a rise in the U.S. dollar index dented investor sentiment.

At the interbank foreign exchange market, the rupee opened at 95.35, then touched an intraday high of 95.15 and finally ended the session at 95.74 (provisional), registering a loss of 56 paise from its previous close.

On Friday (June 5), the rupee appreciated 56 paise to close at 95.18 against the U.S. dollar, after the Reserve Bank announced measures to support foreign capital inflows and strengthen forex liquidity.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 100.16, up 0.09%.

Brent crude, the global oil benchmark, was trading higher by 3.94% at $96.76 per barrel in futures trade after Iran launched multiple rounds of missiles toward Israel.

“We expect the rupee to trade with a negative bias on escalating geopolitical tensions between the U.S., Israel, and Iran and rising crude oil prices. A strong dollar and rise in U.S. treasury yields may also pressurise the rupee,” said Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan.

Mr. Choudhary further noted that any intervention by the Reserve Bank may support the rupee at lower levels. USD-INR spot price is expected to trade in a range of 95.40 to 96.10.

On the domestic equity market front, Sensex tanked 719.08 points to settle at 73,524.26, while the Nifty dived 243.70 points to 23,123.

Foreign institutional investors offloaded equities worth ₹8,776.25 crore on a net basis on Friday (June 5), according to exchange data.

India’s forex reserve jumped by $938 million to $682.321 billion during the week ended May 28, the Reserve Bank said on Friday (June 5). In the previous reporting week, the kitty dropped $7.511 billion to $681.384 billion.

Meanwhile, U.S. President Donald Trump has asked Israeli Prime Minister Benjamin Netanyahu not to retaliate to Iran’s latest barrage of missiles, saying it would jeopardise the ongoing negotiations for a peace deal to end the three-month-long conflict.

U.S. media outlet Axios reported that after Iran launched missiles at Israel on Sunday (June 7), Mr. Trump spoke to Mr. Netanyahu in a bid to prevent fresh tensions between the two nations from derailing the peace deal.