The rupee stayed on a downward track for the fifth straight day, losing 24 paise to 94.25 against the U.S. dollar in early trade on Friday (April 24, 2026), weighed by volatile crude oil prices and an elevated U.S. dollar, with prospects of West Asia peace talks turning hazier.

Analysts said that despite a ceasefire in place between the United States and Iran, ship movement through the Strait of Hormuz remained uncertain after the U.S. military on Thursday (April 23, 2026) seized another Iranian oil tanker, intensifying the standoff and unsettling the fuel prices worldwide.

The rupee rebounded from low levels and gained 11 paise to trade at 90.12 against the U.S. dollar in early deals on Wednesday (January 14, 2026), tracking lower crude oil prices and retreating American currency overseas.

Domestic equity markets also showed resilience even as traders stayed cautious, watching geopolitical developments and awaiting U.S. inflation numbers that are expected to provide cues for the Federal Reserve’s policy move, forex analysts said.

At the interbank foreign exchange, the rupee opened at 90.26 and strengthened up to 89.94 level before trading at 90.12 against the greenback, 11 paise higher from the closing level of the previous session.

On Tuesday (January 13), the rupee declined 6 paise to close at 90.23 against the U.S. dollar.

Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, was trading 0.01% lower at 98.90.

Brent crude, the global oil benchmark, was trading 0.47% lower at $65.17 per barrel in futures trade.

On the domestic equity market front, the 30-share benchmark index Sensex rose 34.81 points to 83,662.50, while the Nifty gained 14.15 points to 25,746.90.

Foreign institutional investors offloaded equities worth ₹1,499.81 crore on Tuesday (January 13), according to exchange data.

The rupee snapped the four-day losing streak and appreciated 12 paise to settle at 90.18 (provisional) against the American currency on Tuesday (January 6, 2026), tracking a decline in the U.S. dollar index.

Forex traders said weak domestic equity markets and geopolitical tensions between the U.S. and Venezuela capped sharp gains for the domestic unit.

At the interbank foreign exchange, the rupee opened at 90.22 against the U.S. dollar and traded in the range of 90.08-90.25 before settling at 90.18 (provisional), up 12 paise from its previous close.

On Monday (January 5), the rupee closed 10 paise lower at 90.30 against the U.S. dollar.

“We expect the Rupee to trade with a negative bias on risk aversion in global markets emanating out of geopolitical tensions between the U.S. and Venezuela. Surge in crude oil prices and FII outflows may further pressurise the Rupee,” said Anuj Choudhary, Research Analyst, Commodities Research, Mirae Asset Sharekhan.

However, a weak Dollar amid disappointing U.S. economic data and any intervention by the RBI may support the rupee at lower levels, Choudhary added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.06% lower at 98.21 after the U.S. ISM Manufacturing PMI came in below expectations.

Brent crude, the global oil benchmark, was trading 0.47% higher at $62.05 per barrel in futures trade.

On the domestic equity market front, the 30-share benchmark index Sensex declined 376.28 points to settle at 85,063.34, while the Nifty was down 71.60 points to 26,178.70.

Foreign institutional investors offloaded equities worth ₹36.25 crore on Monday (January 5), according to exchange data.

On the domestic macroeconomic front, India’s services sector growth moderated in December, as the rates of expansion in incoming new work and output eased to the slowest in 11 months, and companies refrained from recruiting additional staff, a monthly survey said on Tuesday (January 6).

The seasonally adjusted HSBC India Services PMI Business Activity Index fell from 59.8 in November to 58.0 in December, indicating the slowest rate of expansion since January 2025.

The Indian stayed weak for the fourth straight session and closed 8 paise lower at 90.28 (provisional) against the U.S. dollar on Monday (January 5, 2026), weighed down by a firm American currency and subdued equity market sentiment.

Forex traders said that the renewed geopolitical uncertainties after the U.S. military intervention in Venezuela fuelled dollar demand worldwide even though the falling crude oil prices supported the Indian currency at lower level.

At the interbank foreign exchange market, the rupee opened at 90.21 and touched the intra-day low of 90.50 during the session before ending at 90.28 (provisional) against the greenback, 8 paise weaker compared to the previous closing level.

This was the fourth consecutive day of fall for the Indian currency, which has lost 53 paise since December 30, 2025, when it closed at 89.75 a dollar.

The rupee settled lower by 22 paise at 90.20 against the U.S. dollar on Friday (January 2), a day after losing 10 paise on Thursday (January 1). It had lost 13 paise on the last day of the previous calendar year.

Anuj Choudhary, Research Analyst, Commodities Research, Mirae Asset Sharekhan, said the rupee fell on Monday (January 5) amid geopolitical tensions between the U.S. and Venezuela.

The U.S. dollar index strengthened amid safe-haven demand, however, weakness in crude oil prices and FII inflows on Friday (January 2) provided a cushion to the rupee.

Mr. Choudhary said that the declining crude oil prices may support the rupee at lower levels. “Any intervention by the RBI may also support the rupee. Traders may take cues from ISM manufacturing PMI data from the U.S. USD-INR spot price is expected to trade in a range of 90 to 90.60,” he said.

The U.S. has carried out a military operation in Venezuela and deposed President Nicolas Maduro. President Donald Trump said the U.S. would “run” the South American country and tap its vast oil reserves to sell to other nations.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.24% higher at 98.39.

Brent crude, the global oil benchmark, was trading 0.36% lower at $60.53 per barrel in futures trade.

On the domestic equity market front, the 30-share benchmark index Sensex declined 322.39 points or 0.38% to close at 85,439.62, while the Nifty fell 78.25 points or 0.30% to 26,250.30.

Foreign institutional investors turned net buyers, picking up equities worth ₹289.80 crore on Friday (January 2), according to exchange data.

The latest RBI data released on Friday (January 2) showed India’s forex reserves jumped by $3.293 billion to $696.61 billion in the week to December 26.

The overall kitty had increased by $4.368 billion to $693.318 billion in the previous reporting week.

The rupee witnessed range-bound trade in the morning session on Friday (January 2, 2026), appreciating by 6 paise to 89.92 against the US dollar as thin liquidity conditions accentuated everyday demand-supply imbalances, keeping the rupee tilted toward weakness.

Forex traders said the USD/INR pair is expected to trade in a narrow range as the 90 level is being protected by the Reserve Bank of India.

Moreover, the support from positive domestic equities was offset by sustained foreign fund outflows.

At the interbank foreign exchange market, the rupee opened at 89.95 against the U.S. dollar, then gained some ground and touched 89.92, rising by six paise from its previous close.

On Thursday, the rupee depreciated 10 paise to close at 89.98 against the U.S. dollar.

“Unless RBI comes and sells dollars heavily, the movement is going to be in small ranges as seen in the last three sessions. The pair is seen in a holding pattern between 89.80 and 90, considering the narrow range,” said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP.

Bhansali further noted that corporate demand, FPI demand, and government demand have been the salient features of the rupee over the past year, during which it fell by more than 5% and became the worst-performing Asian currency, though partly protected by the RBI.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading marginally down by 0.15% at 98.17.

Brent crude, the global oil benchmark, was trading 0.38 per cent higher at $61.08 per barrel in futures trade.

“With early-year liquidity still thin and domestic fundamentals offering a mixed but stable backdrop, the rupee appears set to remain range-bound in the near term. As long as USD/INR stays below the 90 handle, the balance of risks tilts mildly in favour of the rupee,” CR Forex Advisors MD Amit Pabari said, adding that against this backdrop, USD/INR is expected to trade in a 89.30–90.20 range.

On the domestic equity market front, the 30-share benchmark index Sensex climbed 158.19 points to 85,346.79 in early trade, while the Nifty was up 55.8 points to 26,202.35.

Foreign institutional investors offloaded equities worth Rs 3,268.60 crore on Thursday, according to exchange data.

On the domestic macroeconomic front, gross GST collections rose 6.1% to over ₹1.74 lakh crore in December 2025, on slow growth in revenues from domestic sales following the sweeping tax cuts, according to government data released on Thursday (January 1, 2026).

Gross Goods and Services Tax (GST) revenue in December 2024 was over ₹1.64 lakh crore.

The rupee depreciated 14 paise to close at 90.09 (provisional) against the U.S. dollar on Monday (December 8, 2025), as elevated crude oil prices and persistent foreign fund outflows dented investor sentiments.

Forex traders said multiple pressures, such as sustained importer demand for the American currency, foreign fund outflows from equities, and lingering uncertainty over the India-U.S. trade deal, are keeping investor sentiment fragile.

At the interbank foreign exchange market, the rupee opened at 90.07, then gave up ground and fell to an intra-day low of 90.26 against the U.S. dollar, down 31 paise from its previous close.

At the end of the trade on Monday (December 8), the rupee settled at 90.09 (provisional) against the greenback, down 14 paise over its previous close.

On Friday (December 5), the rupee settled at 89.95 against the U.S. dollar, after the Reserve Bank of India cut the key policy interest rate for the first time in six months.

On Friday (December 5), Reserve Bank Governor Sanjay Malhotra said the central bank does not target any band for the rupee in the forex market and allows the domestic currency to find its own correct level.

“We don’t target any price levels or any bands. We allow the markets to determine the prices. We believe that markets, especially in the long run, are very efficient. It’s a very deep market,” he said, while replying to a question on rupee depreciation at a post-monetary policy press meet on Friday (December 5).

Forex traders said investors’ focus has now shifted to the Fed’s policy outcome on December 9-10. Markets are placing nearly a 90% probability on a rate cut next week.

Meanwhile, India and the United States will commence three-day talks on the first phase of their proposed bilateral trade agreement here from December 10.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.01% lower at 98.98.

Brent crude, the global oil benchmark, was trading lower by 0.71% at $63.28 per barrel in futures trade.

On the domestic equity market front, Sensex tanked 609.68 points to settle at 85,102.69, while the Nifty dropped 225.90 points to 25,960.55.

Foreign institutional investors sold equities worth Rs 438.90 crore on Friday (December 5), according to exchange data.

Meanwhile, India’s forex reserves dropped $1.877 billion to $686.227 billion during the week ended November 28, the RBI said on Friday (December 5).

In the previous reporting week, the overall reserves had declined by $4.472 billion to $688.104 billion.

The rupee depreciated by 8 paise to close at 88.27 against the U.S. dollar on Tuesday (October 28, 2025) on weak domestic stock markets and foreign fund outflows.

Forex traders said a weak U.S. dollar and softening of crude oil prices cushioned the downside.

Investors are also keeping a watch on the Federal Reserve’s policy decision on Wednesday (October 29) for further cues.

At the interbank foreign exchange market, the rupee opened at 88.34 and later traded in a range of 88.23 to 88.40 during the day. The local unit finally settled at 88.27 (provisional) against the greenback, registering a fall of 8 paise from its previous close.

On Monday (October 27), the rupee plunged 36 paise to close at 88.19 against the U.S. dollar.

“We expect the rupee to trade with a slight negative bias on weak domestic equities and month-end dollar demand from importers. However, optimism over the trade deal between India and the U.S. may support the rupee at lower levels,” said Anuj Choudhary, Research Analyst, Currency and Commodities, Mirae Asset ShareKhan.

Mr. Choudhary further noted that investors may remain cautious ahead of the U.S. FOMC meeting decision. USD/INR spot price is expected to trade in a range of 87.90 to 88.60, he said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.09% to 98.69.

Brent crude, the global oil benchmark, fell 1.74% to $64.48 per barrel in futures trading.

On the domestic equity markets front, Sensex declined 150.68 points to settle at 84,628.16, while the Nifty dipped 29.85 points to 25,936.20.

Foreign Institutional Investors sold equities worth ₹55.58 crore on Monday (October 27), according to exchange data.

Meanwhile, India’s crude oil imports from the United States climbed to their highest level since 2022 in October, a move seen as part of New Delhi’s effort to diversify supplies away from Russia and ease trade tensions with the Trump administration.

India’s crude imports from the U.S. reached 540,000 barrels per day as of October 27 – the highest since 2022, according to data from Kpler.

October is likely to close with near 575,000 bpd, and November looks to book around 400,000-450,000 bpd, per U.S. export data – a sharp jump from the year-to-date average of around 300,000 bpd.

The rupee bounced back sharply by 75 paise to close at 88.06 (provisional) against the U.S. dollar on Wednesday (October 15, 2025), posting its biggest intraday gain in nearly four months, due to likely intervention by the RBI and a surge in the domestic markets.

Forex traders said domestic markets surged nearly 0.70% on optimism over trade talks between India and the U.S., which reflected in the USD/INR pair.

Moreover, a weak U.S. Dollar and an overnight decline in crude oil prices also supported the rupee.

At the interbank foreign exchange, the rupee opened at 88.74 against the greenback and fell below the 88-mark during the session, touching a high of 87.93 per dollar. The domestic unit finally settled at 88.06 against the greenback, registering a rise of 75 paise over its previous close.

On Tuesday (October 14), the rupee depreciated by 13 paise to close at an all-time low of 88.81 against the U.S. dollar.

“We expect the rupee to trade with a positive bias on overall weakness in the U.S. dollar and underlying strength in the domestic markets. Broad weakness in global crude oil prices and fresh foreign inflows may also support the rupee. USD/INR spot price is expected to trade in a range of 87.70 to 88.40,” said Anuj Choudhary, Research Analyst, Currency and Commodities, Mirae Asset ShareKhan.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.22% lower at 98.82.

Brent crude, the global oil benchmark, was trading 0.19% lower at $62.27 per barrel in futures trade.

On the domestic equity market front, Sensex jumped 575.45 points to settle at 82,605.43, while Nifty surged 178.05 points to 25,323.55.

Foreign Institutional Investors sold equities worth ₹1,508.53 crore on Tuesday (October 14), according to exchange data.

Meanwhile, India’s exports grew by 6.74% to $36.38 billion in September despite global headwinds. Imports jumped 16.6% to $68.53 billion.

The country’s trade deficit stood at $32.1 billion during the month, according to the commerce ministry data.

The rupee traded in a narrow range and fell 5 paise to 88.77 against the U.S. dollar in early trade on Monday (October 13, 2025), tracking the broad strength of the American currency amid a risk-off tone globally.

Forex traders said the rupee is hovering near its all-time closing low level as the RBI is monitoring the depreciation of the USD-INR pair towards 88.80.

At the interbank foreign exchange market, the rupee opened at 88.75, the fell to 88.77 against the greenback, registering a fall of 5 paise from its previous close.

On Friday, the rupee had settled at 88.72 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.04% to 98.93.

Brent crude, the global oil benchmark, rose 1.50% to $63.67 per barrel in futures trading.

“The market sentiment for the pair is influenced by the U.S. dollar’s strength amid a modest risk-off tone globally and domestic factors, including RBI’s stable policy stance and controlled inflation outlook,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.

The dollar index was slightly down following a softer US-China trade war, Bhansali said, adding that the global market volatility and geopolitical developments remain the key drivers in the near term.

On the domestic equity market front, Sensex dropped 451.82 points to 82,049 in early trade, while the Nifty declined 109.55 points to 25,175.80.

Meanwhile, Foreign Institutional Investors bought equities worth Rs 459.20 crore on Friday, according to exchange data.

India’s forex reserves fell by $276 million to $699.96 billion during the week ended October 3, according to RBI data.

In the previous reporting week, India’s forex reserves had dropped by $2.334 billion to $700.236 billion.