2 min readJun 1, 2026 09:38 AM IST
The Indian rupee fell 9 paise to 94.94 against the US dollar in early trade, even as the stock market opened higher on Monday.
The Sensex rose 206.16 points to 74,981.90, and the Nifty gained 42.65 points to reach 23,604.80.
Earlier on Friday (May 29), Indian benchmark indices ended lower in a volatile trading session.
Brent crude oil prices rose by more than 2.5% to $93.4 a barrel after Israel increased its military operations in Lebanon. This reduced hopes that the United States and Iran would soon extend their ceasefire agreement.
Higher oil prices put pressure on most Asian currencies. The South Korean won fell 0.9%, while the Indian rupee also came under pressure. The situation may worsen because of heavy foreign investor outflows.
Foreign portfolio investors sold more than $2 billion worth of Indian shares on Friday, according to provisional market data.
The Reserve Bank of India (RBI) has helped support the rupee through market intervention. These efforts have prevented the currency from falling further after it hit a record low of 96.96 against the US dollar in May.
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India’s foreign exchange reserves fell to a more than one-year low of $681 billion in the week ending May 22. Data released on Friday also showed that the RBI’s short forward dollar commitments dropped to $95.3 billion at the end of April, down from over $100 billion in March.
