Page 6 - Indian Rupee

Rupee slides to record low past 96/$ as oil nears $110 per barrel

The rupee opened on a weaker note and fell 30 paise to 95.94 on Friday after hitting new lows over three straight sessions, as elevated crude oil prices, a strong dollar, and concerns over the West Asia crisis weighed on investor sentiment. Forex traders said USDINR is under pressure and hovering very close to the 96 mark as dollar buying continues amid upside in oil prices. Moreover, the Summit between US President Trump and Chinese President Xi did not yield any fruitful results, particularly on the US-Iran front, denting investor sentiments further. The USD/INR pair, which had slumped to 95.96 against the American currency on Thursday, recovered sharply after reports surfaced that India is considering a major cut in taxes paid by foreign investors on Indian bonds. On Friday, the government hiked the petrol and diesel prices by Rs 3 per liter in the latest move to curb the demand of these fuels. At the interbank foreign exchange market, the rupee opened at 95.86, then fell furth

'Fuel price hike raises inflation woes; Rupee eyes 96.80 on higher crude'

Petrol and diesel prices were raised by ₹3 per litre as Brent crude stayed above $105 per barrel. Here's how rising fuel prices could impact inflation and the rupee

Rupee hits record low: What Govt, RBI may do next to defend INR vs dollar

Rupee fall in 2026: Emkay Global warns India may need rate hikes by RBI, tighter remittance rules and other policy measures to defend the rupee if crude oil prices remain above $100 per barrel

Fuel price hike shows global oil stress; Rupee seen in ₹96-98 range in FY27

India raised petrol and diesel prices for the first time since 2022 as global crude prices stayed elevated. Here's how the government, OMCs and consumers are sharing the oil shock

Rupee nears 96/$ amid aggressive importer dollar demand, before rebound

The rupee hit a fresh low amid importer dollar demand and inflation concerns, before reports of possible tax cuts for foreign bond investors triggered a brief recovery

Rupee declines 20 paise to all-time low of 95.86 against US dollar

The rupee opened on a weak note and depreciated 20 paise to a record low of 95.86 against the US dollar in early trade on Thursday, weighed down by elevated crude prices and concerns over the West Asia crisis. The rupee has now weakened by more than 6 per cent against the US dollar since the West Asia conflict began, making it Asia's worst-performing currency so far in 2026. In a major move aimed at protecting foreign exchange reserves, India raised import duties on gold and silver from 6 per cent to 15 per cent, but traders said the rupee's path will be shaped less by gold and more by crude's trajectory and the West Asia situation. At the interbank foreign exchange market, the rupee opened at 95.74, then fell further to a record low of 95.86 against the US dollar, registering a fall of 20 paise from its previous close. The rupee on Wednesday slipped to an all-time low of 95.80 against the US dollar, and settled at 95.66 near its record closing low level. "From jewellery showrooms

Rupee weakens to record closing low, approaches 96 against the dollar

Persistent importer demand, elevated crude oil prices and West Asia tensions pushed the rupee to a record closing low despite RBI intervention

India's foreign exchange reserves still robust to defend rupee: Economists

The central bank's reserves, despite being among the world's biggest, are facing tougher scrutiny from investors as the rupee hits record lows

Rupee hits fresh low of 95.75 per dollar amid crude oil, FPI pressure

Worst-performing Asian currency in 2026, second-worst since Iran war

Rupee falls to record low of 95.63 against US dollar in early trade

The rupee depreciated 35 paise to a record low of 95.63 against the US dollar in early trade on Tuesday, after US President Donald Trump said that the ceasefire with Iran was on life support with hopes for a deal with the country fading, triggering a surge in crude oil prices. Market sentiments remained dominated by fears that the 10-week-old conflict could further tighten global supply, particularly after Trump rejected Tehran's latest response to a US-backed peace proposal, calling it totally unacceptable. At the interbank foreign exchange market, the rupee opened at 95.57 against the US dollar and then fell further to an all-time low of 95.63 against the greenback, down 35 paise from its previous close. On Monday, the rupee tanked 79 paise to settle at its record low of 95.28 against the US dollar. "Oil prices were largely steady in Asian trade on Tuesday after climbing nearly 3 per cent in the previous session, as US President Trump said that the ceasefire with Iran was on life

Rate hike in CY26? Why SBI MF's Rajeev Radhakrishnan thinks tide could turn

Radhakrishnan said a persistent supply shock accompanied by a weaker currency can negatively impact inflation and fiscal direction, given the likelihood of higher subsidy requirements

Rupee weakens to fresh low of 95.31 per dollar amid West Asia conflict

The rupee weakened sharply as rising Middle East tensions lifted crude oil prices, strengthened the dollar and intensified pressure on India's external balances

RBI steps in to support rupee as Iran war, PM Modi's remarks spook traders

The renewed pressure on Indian markets came after US President Donald Trump on Sunday rejected Iran's response to a US proposal for peace talks to end the war

RBI should dial back rupee intervention, says former Guv Subbarao

Subbarao said raising interest rates, the "ultimate" exchange rate defence, should be the last resort, as the markets could read it as a sign the conflict poses a bigger threat to India's economy

Rupee crashes 139 paise to 94.90 against US dollar in early trade

The rupee crashed 139 paise to 94.90 against the greenback in early trade on Monday after President Donald Trump rejected Iran's response to the US's peace proposal, following which crude oil prices surged rapidly. A strengthening US dollar and steep FPI outflows further pressured the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 94.97 against the US dollar before inching up to 94.90, down a staggering 139 paise from its previous close. On Friday, the rupee pared its losses and ended with a sharp gain of 71 paise at 93.51 against the greenback. Iran has sent its response to the latest US ceasefire proposal via Pakistani mediators and wants negotiations to focus on permanently ending the war, Iran's state-run media said on Sunday. Trump rejected Iran's proposal to end the months-long war as "totally unacceptable" without sharing details even as a key Republican leader urged him to consider the "military option". "After US President

Rupee settles lower at 94.48 against US dollar in choppy trade

The rupee settled weaker against the US dollar amid renewed tensions in West Asia, while RBI intervention helped curb further losses in the domestic currency

Rupee depreciates 45 paise to 94.67 against US dollar in early trade

The rupee depreciated 45 paise to 94.67 against the US dollar in early trade on Friday, as Brent crude prices rose back to USD 101.00 per barrel after US and Iranian forces exchanged fire near the Strait of Hormuz. Forex traders said investor sentiments were affected after Iran accused the US of violating the ceasefire as the US carried out retaliatory strikes with new attacks, which took place in the Strait of Hormuz and civilian areas, while President Donald Trump said the ceasefire was still in effect. Brent oil prices, which had fallen to USD 98 per barrel amid the US-Iran peace deal, edged higher to USD 101 per barrel as investors weighed the prospects for a Middle East peace deal. At the interbank foreign exchange market, the rupee opened at 94.58 against the US dollar, then lost momentum and touched 94.67 against the American currency, registering a fall of 45 paise over its previous close. On Thursday, the rupee pared initial losses and settled the day on a positive note,

Rupee falls 28 paise to 94.77 against US dollar amid West Asia conflict

The rupee depreciated 28 paise to 94.77 against the US dollar in early trade on Thursday as market sentiment took a dramatic turn after reports emerged that the US and Iran are discussing a 14-point Memorandum of Understanding (MOU) aimed at reducing tensions and reopening negotiations. Forex traders said Brent oil prices, which had fallen to USD 98 on the US-Iran peace deal, edged slightly higher to USD 101 per barrel after investors weighed the prospects for a Middle East peace deal. Moreover, factors such as unabated foreign capital outflows amid rising geopolitical uncertainties further dented investor sentiment. At the interbank foreign exchange market, the rupee opened at 94.77 against the US dollar, registering a fall of 28 paise over its previous close. On Wednesday, the rupee appreciated 69 paise to close at 94.49 against the US dollar. "Markets are currently focused on the critical 48-hour window during which the US expects Tehran's formal response through Pakistani ...

Rupee snaps five-day losing streak as bond yields soften 10 bps

The rupee strengthened sharply and government bond yields eased after crude oil prices fell on hopes of a possible easing in US-Iran tensions

Rupee to trade around ₹95 per US dollar by 2026-end amid Iran war: BMI

The Indian Rupee is likely to trade broadly sideways at around Rs 95 per US dollar by end-2026, from its current level of Rs 95.20 per US dollar, with the Iran conflict expected to weigh on its value, BMI said on Wednesday. However, slowing profit repatriation and central bank currency intervention will limit the pace of rupee depreciation, the Fitch group company said in a report. The US-Iran conflict has exerted downward pressure on emerging market currencies, especially for large energy importers like India. The rupee depreciated 4 per cent during March-April 2026 and currently trades at Rs 95.20/USD. BMI said it expects India's GDP to grow 7.6 per cent and inflation to hit 3.4 per cent during the current fiscal year (April 2025-March 2026). As a result of the currency's weakness, the Reserve Bank of India (RBI) intervened heavily in currency markets to stabilise the rupee. "Going forward, we expect the rupee to trade broadly sideways to end the year around Rs 95.00/USD. Our ...