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At interbank forex market, rupee opened at 94.03 against the US dollar. During the session, it touched intraday high of 93.98 and slipped to low of 94.17 before settling at 94.11.
Rupee Vs Dollar Today.
The Indian rupee extended its losing streak for the fourth straight session on Thursday, weakening by 33 paise to close at 94.11 per US dollar (provisional). The domestic currency slipped past the 94-mark for the second time in a month as higher crude oil prices, foreign fund outflows and a stronger US dollar weighed on sentiment.
The rupee has now fallen more than 1 per cent in the past week, reflecting growing pressure from global and domestic factors.
How Did The Rupee Trade Today?
At the interbank foreign exchange market, the rupee opened at 94.03 against the US dollar. During the session, it touched an intraday high of 93.98 and slipped to a low of 94.17 before settling at 94.11.
On Wednesday, the currency had already weakened by 34 paise to close at 93.78. Over the last four trading sessions, the rupee has lost around 120 paise, or nearly 1.3 per cent, from its April 17 close of 92.91.
Why Is The Rupee Falling?
1. Rising Crude Oil Prices
India imports a large share of its crude oil needs, making the rupee highly sensitive to oil price movements. Brent crude rose 1.88 per cent to $103.83 per barrel in futures trade, adding pressure on India’s import bill and current account deficit.
2. West Asia Tensions
Fresh uncertainty in West Asia has unsettled global markets. Concerns around maritime trade routes and stalled peace negotiations have pushed investors towards safe-haven assets like the US dollar.
3. Foreign Investor Selling
Foreign Institutional Investors (FIIs) continued to pull money out of Indian equities. Exchange data showed overseas investors sold shares worth about Rs 2,078.36 crore on Wednesday. Persistent outflows increase demand for dollars and weaken the rupee.
4. Stronger US Dollar
The dollar index, which tracks the greenback against six major global currencies, was up 0.12 per cent at 98.53. A stronger dollar generally puts pressure on emerging market currencies, including the rupee.
What Experts Said
According to Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan, the rupee fell for the fourth consecutive day and breached the 94-mark, taking cues from weak domestic markets and a strong dollar.
“Surge in crude oil prices, too, weighed on the rupee. Global market sentiments deteriorated amid uncertainty over US-Iran talks,” Choudhary said and projected the USD-INR spot price “in a range of Rs 93.80 to Rs 94.50″.
V K Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said, “The fundamental factor behind the rupee’s weakness is the rising current account deficit caused by high crude prices and the sustained FPI outflows from India. So long as these factors remain the same, the rupee will remain weak, and if crude price rises again due to escalation of the conflict, the rupee will depreciate further.”
Weakness in the rupee came alongside a sharp selloff in equities. The BSE Sensex dropped 852.49 points, or 1.09 per cent, to close at 77,664, while the Nifty 50 declined 205.05 points, or 0.84 per cent, to 24,173.
April 23, 2026, 16:45 IST
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