The rupee appreciated 14 paise to close at 95.27 (provisional) against the U.S. dollar on Wednesday (June 10, 2026), amid likely intervention from the Reserve Bank of India (RBI) to curb excessive volatility and prevent a further slide in the domestic unit.

Forex traders said the rupee pared its initial losses and settled on a positive note as Brent crude oil prices and the U.S. dollar index retreated from their elevated levels. Moreover, likely intervention from the Reserve Bank of India (RBI) also supported the domestic unit at lower levels.

At the interbank foreign exchange market, the rupee opened at 95.52, then touched an intraday high of 95.07 and a low of 95.56 against the U.S. dollar. The rupee finally ended the session at 95.27 (provisional), registering a rise of 14 paise from its previous close.

On Tuesday (June 9, 2026), the rupee appreciated 20 paise to close at 95.41 against the U.S. dollar. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.87, down 0.04%.

Brent crude, the global oil benchmark, was trading lower by 0.32% at $91.16 per barrel in futures trade. Forex traders said the rupee steadied as markets await U.S. CPI data amid escalating U.S.-Iran tensions.

According to traders, the Indian rupee remains under severe pressure due to renewed geopolitical tensions in West Asia. As India heavily relies on energy imports, any spike in global crude oil prices directly widens the trade deficit and weakens the domestic currency, they said.

The United States launched retaliatory strikes against Iran after an American Apache helicopter was downed near the Strait of Hormuz.

In response, Iran’s Islamic Revolutionary Guard Corps (IRGC) launched retaliatory drone and long-range missile strikes targeting U.S. facilities across the region.

On the domestic equity market front, Sensex was marginally up 64.42 points and settled at 73,983.18, while the Nifty skidded 27.15 points to close at 23,214.95. Foreign institutional investors offloaded equities worth ₹4,566.03 crore on a net basis on Tuesday (June 9, 2026), according to exchange data.

Meanwhile, Indian government bond yields dropped sharply in the last four days, with the benchmark 10-year yield falling 0.10%, as foreign portfolio investor (FPI) inflows picked up after the government’s recent tax relief measures for debt investments.

Money market experts attributed the easing yields on government securities to heavy inflows of ₹11,026.331 crore in the last four days by foreign investors in these securities under the Fully Accessible Route (FAR). FAR allows non-resident investors to invest in specified Government of India dated securities without any investment ceilings.

The rupee depreciated 31 paise to close at 95.67 (provisional) against the U.S. dollar on Wednesday (June 3, 2026), after the U.S. Trade Representative proposed a 12.5% additional duties on Indian imports, citing labour violations. Forex traders said strong dollar demand, surging crude oil prices, geopolitical tensions, and relentless foreign capital outflows dented investor sentiment further.

At the interbank foreign exchange market, the rupee opened at 95.43 against the U.S. dollar, then touched an intraday low of 95.80 and finally ended the session at 95.67 (provisional), down 31 paise from its previous close. On Tuesday (June 2, 2026), the rupee depreciated 17 paise to close at 95.36 against the U.S. dollar.

Forex traders said the U.S. Trade Representative’s action, amid fresh hostilities and stalled talks between the U.S. and Iran, weighed on investor sentiment. The U.S. Trade Representative has proposed 12.5% additional duties on 54 countries, including India, for failing to prohibit the import of goods produced with forced labour.

Meanwhile, the government said India is engaged with the U.S. on the Section 301 investigations over concerns related to forced labour and excess industrial capacity. The country is also “parallelly” engaged with the U.S. for finalisation of an interim trade agreement, a framework for which was announced through a joint statement on February 7.

The Office of the United States Trade Representative (USTR) launched two separate Section 301 investigations on March 11 and 12, 2026, covering 60 economies over concerns related to forced labour and excess industrial capacity. Meanwhile, market participants are now turning their attention to the Monetary Policy Committee of the Reserve Bank of India (RBI MPC) rate decision on June 5, as inflation, growth and the rupee are under focus.

The RBI Monetary Policy Committee meeting is scheduled for June 3-5. The six-member 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 99.34, up 0.13%. Brent crude, the global oil benchmark, was trading higher by 2.76% at $98.65 per barrel in futures trade.

On the domestic equity market front, Sensex dropped 303.67 points to settle at 74,346.17, while the Nifty was down 77.95 points to 23,405.60. Foreign institutional investors offloaded equities worth ₹8,362.92 crore on a net basis on Tuesday (June 2, 2026), according to exchange data.