The rupee depreciated 27 paise to 95.79 against the U.S. dollar in early trade on Friday (September 11, 2026) driven by elevated crude oil prices and foreign portfolio outflows.

Forex traders said while record foreign exchange reserves, active Reserve Bank intervention, and robust domestic growth provide crucial support, rising global yields and crude trading above $108 continue to weigh heavily on the country’s import bill.

At the interbank foreign exchange market, the rupee opened at 95.70 against the U.S. dollar, then lost ground to touch 95.79, registering a loss of 27 paise from its previous close.

On Thursday (September 10, 2026), the rupee depreciated 44 paise to close at 95.52 against the U.S. dollar.

“For the rupee, the pressure continues. It remains in an uptrend beyond 95 on the back of costly oil and foreign portfolio outflows, and we could see 96, with 95 now acting as support,” said Anindya Banerjee, Head of Commodity and Currency Research, Kotak Securities.

The offsetting strengths are real — record foreign exchange reserves, the Reserve Bank’s active presence in the market, and strong domestic growth at 7.8% — but with crude above $100 and global yields rising, the import bill is the dominant force in the near term, Banerjee said.

Investors will track U.S. and Indian inflation data for further cues.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.16, higher by 0.12%.

Brent crude, the global oil benchmark, was trading marginally lower by 0.76% at $108.45 per barrel in futures trade, amid escalating U.S.-Iran tensions and fears of disruption to oil flows through the Strait of Hormuz.

On the domestic equities market front, the Sensex slumped 628.24 points to 74,257.69 in early trade, while the Nifty dropped 221.20 points to 23,255.10.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹438.24 crore on a net basis on Thursday (September 10, 2026), according to exchange data.

Rupee pared initial losses and settled for the day higher by 12 paise at 96.24 (provisional) against the U.S. dollar on Tuesday (July 21, 2026), as traders assessed the strong inflows related to the Reserve Bank’s initiatives to support foreign exchange liquidity amid global market uncertainties.

Forex traders said India attracted $20.72 billion in forex inflows under the swap facility since June, providing significant structural support to the country’s balance of payments position.

At the interbank foreign exchange, the rupee opened at 96.41 against the U.S. dollar and traded in the range of 96.13 to 96.42 during the day. The domestic unit finally settled for the day at 96.24 (provisional), higher by 12 paise from its previous close.

On Monday (July 20, 2026), the rupee fell 6 paise to 96.36 against the U.S. dollar.

The Reserve Bank on Monday (July 20, 2026) said its concessional swap facility, introduced to encourage foreign currency inflows, has attracted $20.72 billion till July 17. The swap facility has seen avid interest and attracted steady forex inflows since June 8, 2026.

A strong mobilisation was witnessed through Foreign Currency Non-Resident (Bank) or FCNR (B) deposits.

Of the total inflows, FCNR (B) deposits accounted for $17.406 billion, while Overseas Foreign Currency Borrowings (OFCBs) contributed $1.97 billion and External Commercial Borrowings (ECBs) amounted to $1.342 billion, the central bank said in a statement on Monday (July 20, 2026).

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.03% at 100.91.

Brent crude, the global oil benchmark, was trading 0.25% higher at $89.44 per barrel in futures trade.

The USD/INR pair continue to remain under pressure as the dollar index has touched 100.91 while oil prices were well bid at $89.44 per barrel, traders said, adding that the U.S.-Iran conflict and the Houthi-Saudi blockade could again risk the West Asia oil supplies.

On the domestic equity market front, Sensex declined 238.41 points to settle at 77,470.11, while the Nifty dipped 50.80 points to 24,187.70.

Foreign Institutional Investors offloaded equities worth ₹1,121.04 crore on a net basis on Monday (July 20, 2026), according to exchange data.

The rupee weakened 12 paise to 96.42 against the U.S. dollar in early trade on Monday (July 20, 2026) due to a surge in crude oil prices and strong demand for the American currency amid the worsening West Asia crisis.

Foreign capital outflows from domestic equity markets also weighed on the Indian currency, forex traders said.

At the interbank foreign exchange, the rupee opened lower at 96.53 against the previous close of 96.30 to the dollar. The local unit pared some losses to trade at 96.42 later, down 12 paise from its previous close.

On Friday (July 17, 2026), the rupee gained 12 paise to settle at 96.30 against the U.S. dollar, supported by positive domestic market sentiment and a decline in U.S. Treasury yields.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading marginally down by 0.05% at 100.54.

Brent crude, the global oil benchmark, was trading 2.45% higher at $90.26 per barrel in futures trade, as the U.S. and Iran have inched closer to all-out war, as last month’s interim deal meant to permanently end the fighting has crumbled and shipping traffic in the Strait of Hormuz has largely stalled.

The United States conducted a new round of airstrikes early on Monday (July 20, 2026) targeting Iran after announcing the death of another American service member, and Iran fired missiles towards Jordan that risked widening the conflict into neighbouring Israel.

Meanwhile, Bahrain sounded its missile alert sirens Monday morning (July 20, 2026), warning of an Iranian retaliatory attack after U.S. airstrikes targeted the Islamic Republic.

On the domestic equity market front, the Sensex tumbled 593.78 points, or 0.76%, to 77,557.67, while the Nifty declined 169.20 points, or 0.70%, to 24,165.10.

Foreign Institutional Investors offloaded equities worth ₹376.41 crore on a net basis on Friday (July 17, 2026), according to exchange data.

The Reserve Bank data released on Friday (July 17, 2026) showed India’s forex reserves jumped $964 million to $675.157 billion in the week ended July 10. In the previous reporting week, the overall kitty had jumped by $7.26 billion to $674.193 billion.

The rupee fell 39 paise to 95.77 against the American currency in early trade on Monday (July 13, 2026) weighed down by elevated crude oil prices.

Forex traders said with Brent oil prices rising over $79 a barrel, the Indian rupee is expected to open weaker at 95.53 levels after Iran declared the Strait of Hormuz as closed.

At the interbank foreign exchange market, the rupee opened at 95.72, then touched 95.77 against the U.S. dollar, registering a loss of 39 paise from its previous close.

On Friday (July 10, 2026), the rupee rose 9 paise to settle at 95.38 against the U.S. dollar.

“The renewed fighting between the US and Iran revived fears of a major disruption to global Crude supplies,” 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 at 101.12, up 0.17%.

Meanwhile, Brent crude, the global oil benchmark, was trading higher by 4.05% at $79.09 per barrel in futures trade.

“Brent oil prices rose by more than 4% this Monday morning, rising to $79.25 per barrel as Iran announced the closure of the Strait of Hormuz. The latest rally came after Iran on Sunday expanded missile and drone attacks to Gulf states and the UAE in retaliation for U.S. strikes,” Mr. Bhansali added.

On the domestic equity market front, Sensex tanked 616.15 points to 76,946.97 in early trade, while the Nifty dropped 190.50 points to 24,015.

Foreign institutional investors purchased equities worth ₹2,603.72 crore on a net basis on Friday (July 10, 2026), according to exchange data.

On the domestic macroeconomic front, the Reserve Bank of India on Friday (July 10, 2026) said the country’s forex reserves jumped USD 7.26 billion to USD 674.193 billion during the week ended July 3.

In the previous reporting week, the forex kitty had dropped by U$5.654 billion to $666.933 billion.

The rupee slipped 20 paise to 95.16 against the greenback in early trade on Wednesday (July 8, 2026) as the U.S. launched fresh strikes on Iran after Tehran struck three ships in the Strait of Hormuz, pushing up crude oil prices and strengthening the dollar.

A weaker opening in the domestic equity markets further pressured the local unit, according to forex traders.

At the interbank foreign exchange market, the rupee opened at 95.15 against the U.S. dollar before slipping further to 95.16, down 20 paise from its previous close.

On Tuesday (July 7, 2026), the rupee appreciated 47 paise to close at 94.96 against the U.S. dollar.

“The rupee opened at 95.15 levels on Wednesday (July 8, 2026) as the dollar index moved higher and Brent crude touched $76 levels with most Asian currencies also falling against the dollar,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 101.08, up 0.06%.

Brent crude, the global oil benchmark, was trading higher by 2.55% at $76.05 per barrel in futures trade.

The U.S. Energy Information Administration (EIA) has forecast Brent crude oil price to average $74 in the third quarter of 2026, which is $27 lower than last month’s forecast, Mr. Bhansali added.

On the domestic equity market front, Sensex tanked 537.83 points to 77,642.89 in early trade, while Nifty was down 163.55 points to 24,235.15.

Foreign institutional investors purchased equities worth ₹393.19 crore on a net basis on Tuesday (July 7, 2026), according to exchange data.

The rupee fell 19 paise to 94.75 against the American currency in early trade on Wednesday (July 1, 2026), weighed down by the strength of the American currency in the overseas market.

Forex traders said whenever fresh foreign inflows enter the country, the central bank is likely to use the opportunity to rebuild its reserve position rather than allowing the rupee to strengthen too much.

Moreover, uncertainty prevailed over the progress of U.S.-Iran peace talks keeping a geopolitical risk premium in the market.

At the interbank foreign exchange market, the rupee opened at 94.67, then touched 94.75 against the U.S. dollar, registering a loss of 19 paise from its previous close.

On Tuesday (June 30, 2026), the rupee depreciated by 5 paise to close at 94.56 against the U.S. dollar.

“The global dollar is also adding pressure. After the U.S. Federal Reserve maintained a cautious stance in its latest policy meeting, the Dollar Index has continued to hold above the 101 mark,” CR Forex Advisors MD Amit Pabari said.

As long as the dollar stays firm globally, the rupee is likely to remain under pressure, he added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 101.34, up 0.15%.

Meanwhile, Brent crude, the global oil benchmark, was trading higher by 0.38% at $73.23 per barrel in futures trade.

According to Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, continued normalisation of oil flows through the Strait of Hormuz following the U.S.-Iran ceasefire and diplomatic engagement kept it at the lower side at $73.15 per barrel this morning as uncertainty over the progress of U.S.-Iran peace talks kept a risk premiums in the market.

On the domestic equity market front, Sensex climbed 182.42 points to 76,661.36 in early trade, while the Nifty was up 49.90 points to 23,916.85.

Foreign institutional investors sold equities worth ₹2,556.75 crore on a net basis on Tuesday (June 30, 2026), according to exchange data.

On the domestic macroeconomic front, India’s fiscal deficit touched 9.6% of the FY27 budget target at the end of May, government data showed on Tuesday (June 30, 2026).

The fiscal deficit, or gap between the government’s expenditure and revenue, was ₹1.62 lakh crore in value terms at the end of May 2026, data released by the Controller General of Accounts (CGA) showed.

The rupee appreciated 20 paise to 94.25 against the U.S. dollar in early trade on Monday (June 29, 2026), supported by easing crude oil prices, even as a firm U.S. dollar and tepid investor risk appetite weighed on sentiments.

Forex traders said the rupee opened on a positive note with oil prices remaining supportive and foreign inflows improving. The overall bias remains positive for the rupee, they said, adding that the immediate hurdle remains the U.S. dollar, which continues to hold firm near a 13-month high.

At the interbank foreign exchange market, the rupee opened at 94.36, then gained momentum and touched 94.25, registering a gain of 20 paise from its previous low.

On Thursday (June 25, 2026), the rupee settled at 94.45 against the U.S. dollar.

Indian stock, currency, and commodities markets were shut on Friday (June 26, 2026) on account of Muharram.

“The rupee may remain under pressure amid a firm U.S. dollar and the risk of a rebound in crude oil prices, though bond inflows could offer some support. Technically, 93.50–94.10 is a strong support zone, while a breakout above 94.80 could open the way towards 95.30–95.50,” said CR Forex Advisors MD – Amit Pabari.

Meanwhile, India’s forex reserves increased by $963 million to $672.587 billion during the week ended June 19, the RBI said on Friday (June 26, 2026). In the previous reporting week, the overall reserves had dropped by $9.985 billion to $671.625 billion.

According to Mr. Pabari, a steady gain in India’s forex reserves shows the Reserve Bank is rebuilding its buffer after months of heavy dollar selling.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 101.37, up 0.02%.

Brent crude, the global oil benchmark, was trading higher by 0.72% at $72.51 per barrel in futures trade.

“Brent crude has slipped to around $72 per barrel, it’s lowest in four months, after falling more than 10% in just one week. Tankers are moving freely through the Strait of Hormuz again, and Gulf supply is returning to normal. For a country that imports most of its crude, this means a lighter import bill and softer dollar demand,” Mr. Pabari said.

On the domestic equity market front, Sensex declined 63.65 points to 77,047.63 in early trade, Nifty was marginally up by 16.55 points to 24,070.20.

Foreign institutional investors purchased equities worth ₹383.76 crore on a net basis on Thursday (June 25, 2026), according to exchange data.

The rupee depreciated 15 paise to 94.48 against the U.S. dollar in early trade 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 a nervous Middle East 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 initial trade it also touched 94.24 against the American currency.

On Friday (June 19, 2026), the rupee pared most of its initial gains and settled higher by 7 paise at 94.33 against the U.S. dollar.

“Technically, the 94.00–94.20 zone continues to act as a key support area, while 94.80–95.00 remains the immediate resistance band. With debt inflows showing signs of improvement and oil prices staying relatively contained, the bias remains mildly in favour of rupee appreciation, with USD/INR potentially drifting towards the 94.00–93.80 zone,” CR Forex Advisors MD – Amit Pabari said.

On the global front, high-level Iran war talks in Switzerland ended on Monday (June 22, 2026) 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 mouth of the Persian Gulf crucial to energy shipments, while the U.S. said traffic continued.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 0.02% up at 100.87, amid hawkish FED and the fragile U.S.-Iran trade deal.

Brent crude, the global oil benchmark, was trading lower by 1.28% at $79.54 per barrel in futures trade.

“Brent oil was very near to $79 per barrel as talks between the U.S. and Iran were progressing, while Iran had closed the Strait of Hormuz,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

On the domestic equity market front, Sensex climbed 407.12 points to 77,210.02 in early trade, while the Nifty surged 114.75 points to 24,129.95.

Foreign institutional investors turned buyers on Friday (June 19, 2026), purchasing equities worth ₹4,859.07 crore on a net basis, according to exchange data.

The rupee pared most of its initial gains and settled for the day higher by just 6 paise at 94.34 (provisional) against the U.S. dollar on Friday (June 19, 2026), as a firming dollar index and rising crude oil prices weighed on investor sentiments.

Forex traders said the rupee opened on a positive note, on optimism that trade negotiations between India and the U.S. are set to gain momentum.

Indian Foreign Secretary Vikram Misri on Thursday (June 18, 2026) said trade was a major subject of discussion between Prime Minister Narendra Modi and U.S. President Donald Trump, with both leaders directing their negotiators to finalise the proposed trade pact at the earliest.

However, market sentiments weakened amid uncertainty over the U.S.-Iran peace deal, traders said.

U.S. Vice-President J.D. Vance has put off his visit to Switzerland for talks with Iranian negotiators, with the White House citing logistical issues.

At the interbank foreign exchange, the rupee opened at 94.30 against the U.S. dollar and traded in the range of 94.20-94.52. Eventually, it settled at 94.34 (provisional), up 6 paise from its previous close.

On Thursday (June 18, 2026), the rupee settled 10 paise higher at 94.40 against the U.S. dollar.

“The rupee remains the lead performer among Asian peers, energised by a resurgence of capital inflows and cooling oil prices. With risk-on sentiment back in the driver’s seat, we expect the local rupee to march towards 94 on the back of dollar inflows. Technically, USD-INR spot is boxed between a crucial resistance at 94.90 and firm support at 94.10,” said Dilip Parmar, Research Analyst, HDFC Securities.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 100.76, lower by 0.08%.

Brent crude, the global oil benchmark, was trading down 0.65% at $79.33 per barrel in futures trade.

On the domestic equity market front, Sensex dived 607.08 points to settle at 76,802.90, while the Nifty fell 154.90 points to 24,013.10.

Foreign institutional investors offloaded equities worth ₹1,025.20 crore on a net basis on Thursday (June 18, 2026), according to exchange data.

Mr. Misri’s comments came a day after Mr. Modi and Mr. Trump held wide-ranging talks for the first time in 16 months on the margins of the G7 Summit in an attempt to rebuild strained bilateral ties.

Mr. Misri said significant progress has been made on the conclusion of the interim trade pact and that U.S. Trade Representative Jamieson Greer will be visiting India next week to take forward the discussions.

Union Finance Minister Nirmala Sitharaman on Sunday (June 14, 2026) said fluctuations in the rupee against the U.S. dollar are influenced by a range of global and domestic factors.

Speaking to reporters at Devanahalli near Bengaluru during a programme marking 12 years of Prime Minister Narendra Modi-led NDA government, Ms. Sitharaman said that the global and domestic factors are such as geopolitical uncertainties, foreign capital movements, and India’s dependence on imports such as crude oil, fertilizer, and gold. “The Reserve Bank of India intervenes in the foreign exchange market only to curb excessive volatility and not to maintain a fixed exchange rate,” she said.

She explained that the central bank acts sparingly whenever there are sharp fluctuations in the currency market.

The Finance Minister noted that several international developments have a bearing on the rupee’s movement. These include policy decisions by the U.S. Federal Reserve, movements in major global currencies, and foreign investment inflows and outflows.

“The rupee’s movement against the U.S. dollar is shaped by several factors, including global economic uncertainties, U.S. Federal Reserve policy decisions, fluctuations in major international currencies, and foreign capital inflows and outflows,” Ms. Sitharaman said.

Finance Minister targets Rahul Gandhi

Meanwhile, Ms. Sitharaman launched a sharp attack on Leader of the Opposition in the Lok Sabha Rahul Gandhi, accusing him of consistently undermining India’s achievements while criticising Mr. Modi and the Union government.

Addressing party workers at the Viksit Bharat Sankalp Samavesha in the city, Ms. Sitharaman alleged that Mr. Gandhi routinely criticised government initiatives and downplayed the achievements of Indian people in an attempt to target Mr. Modi and the Centre.

“Whenever the Leader of the Opposition speaks in the Lok Sabha, he only criticises developments and downplays the achievements of the people of India, thinking that he is attacking the Prime Minister or the Central government,” she added.

Refuting claims that India faces an impending crisis, Ms. Sitharaman said the country’s economic fundamentals remain strong.