The Indian rupee concluded trading nearly unchanged at 94.15 against the US dollar on Monday, gaining merely one paisa amidst global uncertainties, escalating tensions in West Asia, and surging crude oil prices impacting investor sentiment.
Forex traders noted that the rupee began the session on a weaker note but pared its initial losses, although the overall market outlook remained negative due to Foreign Institutional Investor (FII) sell-offs and high crude oil prices limiting the currency’s gains.
During the trading day on the interbank foreign exchange market, the rupee opened at 94.25, reaching a peak of 94.11 and a low of 94.28 against the dollar. By the close of the trading session, the provisional exchange rate was 94.15, reflecting a slight gain of one paisa from the previous close.
On the previous Friday, the rupee had experienced its fifth consecutive day of decline, depreciating by 15 paise to settle at 94.16 against the dollar.
According to Dilip Parmar, Senior Research Analyst at HDFC Securities, “The rupee snapped a five-session losing streak, rebounding alongside a rally in regional currencies. However, the sentiment remains cautious as the market braces for potential intervention from the Reserve Bank of India (RBI) should the rupee approach 94.30 amidst rising crude prices.”
From a technical perspective, Parmar mentioned that the USD/INR pair had regained upward momentum, forming a classic bullish pattern of higher highs and lows on daily charts, indicating that 93.80 serves as support while 94.40 remains the key resistance level.
Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, dipped by 0.21 percent to 98.32.
Brent crude oil, the global benchmark, was trading higher by 2.36 percent at USD 107.82 per barrel in futures markets.
In domestic equity markets, the Sensex surged by 639.42 points to close at 77,303.63, while the Nifty rose by 194.75 points to reach 24,092.70.
Notably, Foreign Institutional Investors were reported to have sold equities worth Rs 8,827.87 crore on Friday, according to exchange data.
Additionally, India’s forex reserves increased by USD 2.362 billion to USD 703.308 billion for the week ending April 17, as reported by the Reserve Bank of India (RBI). This follows an increase of USD 3.825 billion in the previous week, bringing the total reserves to USD 700.946 billion.
Published on April 27, 2026.
