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The Indian rupee fell 6 paise to 86.17 against the US dollar in early trade Monday amid rising crude prices and geopolitical tensions. FII outflows also weighed on the rupee, despite gains in equities and rising forex reserves.

The rupee dropped 56 paise to 86.08 against the US dollar due to surging oil prices and geopolitical tensions after Israel's attack on Iran. Weak equities, FII outflows, and a tragic Air India crash further dented investor confidence.

The rupee fell 7 paise to close at 85.60 against the dollar on Thursday, tracking a sharp sell-off in domestic equities and rising crude prices. A weak dollar capped the fall, while traders await US PPI and India CPI data.

The rupee appreciated by 7 paise to 85.46 against the US dollar, supported by a weak dollar index, falling crude oil prices, and positive equities. However, FII outflows and anticipation of CPI data capped further gains, traders said.

The Indian rupee strengthened by 6 paise to 85.51 against the US dollar on Wednesday, aided by foreign fund inflows and easing global crude prices. Traders expect range-bound movement amid demand from oil firms and government-related payments.

The rupee fell 4 paise to 85.72 against the US dollar in early trade on Monday amid rising Brent crude prices and reduced yield appeal after RBI’s 50 bps rate cut. Traders expect short-term pressure on the currency.

The rupee slipped 9 paise to 85.96 against the US dollar in early trade on Thursday amid strong dollar demand from importers and FIIs. Markets await RBI’s policy decision, while rising crude prices add pressure on India’s currency outlook.

The rupee weakened by 25 paise to 85.86 against the US dollar in early trade on Wednesday amid FII outflows. The decline was cushioned by positive equities and soft crude prices. Markets await RBI's policy announcement later this week.

The rupee rose 12 paise to 85.43 against the US dollar on Monday, buoyed by weak global cues and robust GDP data. Analysts await RBI’s rate decision and PMI data as markets remain volatile amid foreign fund outflows and high oil prices.

The rupee came under pressure due to rising global crude oil prices and weaker-than-expected domestic industrial output data for April. However, sustained foreign fund inflows and positive sentiment in domestic equities helped limit further losses, according to forex traders.

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The local currency also gained support from increased foreign fund inflows and the RBI's announcement of a record dividend payout to the government for FY25, according to forex traders.

Forex traders noted that the broad-based weakness in the dollar, with the DXY slipping to the 99 level, is likely to support the rupee in the short term. However, the shrinking yield gap between India and the US is diminishing the appeal of Indian assets.

According to forex traders, elevated global crude oil prices added to the downward pressure on the USD/INR pair. In early trade at the interbank foreign exchange market, the rupee opened at 85.65 and slipped to 85.67 against the US dollar, marking a decline of 9 paise from its previous close.

According to forex traders, escalating geopolitical tensions between India and Pakistan have triggered a risk-off sentiment in the market, contributing to the rupee's decline. Additionally, rising demand for the US dollar has further dampened investor confidence.

Early Wednesday, the Indian armed forces launched missile strikes on nine terrorist targets in Pakistan and Pakistan-Occupied Kashmir, targeting key locations such as the Jaish-e-Mohammad stronghold in Bahawalpur and the Lashkar-e-Taiba base in Muridke.

Forex traders noted that a steep drop in crude oil prices, along with a strong performance in domestic equities, boosted investor sentiment. Brent crude prices fell by nearly 4 percent in early Asian trading after OPEC+ indicated plans over the weekend to ramp up production in the coming months.

Forex traders noted that GST collections surged to a record ₹2.37 lakh crore in April, indicating strong domestic demand. Additionally, upbeat sentiment was supported by a rally in domestic equities, fueled by consistent foreign fund inflows.

According to forex traders, escalating geopolitical tensions between India and Pakistan have triggered a risk-off sentiment in the market, weighing on the rupee. However, steady foreign fund inflows and stable crude oil prices helped limit the domestic currency’s decline.

Forex traders said India is presenting a picture of quiet strength. The Reserve Bank of India, in its recent bulletin, emphasised India's growing economic resilience, driven by strong macro fundamentals, diverse trade ties, and rising global interest in Indian markets.