The India rupee depreciated 32 paise to an all-time low of 95.20 against the US dollar in early trade. Check details here.
Updated: April 30, 2026 10:00 AM IST
The Indian rupee depreciated 32 paise to an all-time low of 95.20 against the US dollar in early trading on Thursday, crossing the psychologically significant 95 mark. At the interbank foreign exchange market, the rupee opened at 95.01 against the US dollar, then lost some ground and touched an all-time low of 95.20 against the US dollar in initial trade, registering a fall of 32 paise over its previous close. This sharp fall comes amid the rising uncertainty related to the ongoing war, foreign fund outflows, and an increase in international crude oil prices.
Rupee falls to all-time low of 95.07 against US dollar in early trade. pic.twitter.com/U1kcHNUYC7
— Press Trust of India (@PTI_News) April 30, 2026
What are the possible reasons for the Indian Rupee hitting an all-time low?
The Rupee had opened on a firmer footing, which is at Rs 95.01 during the interbank foreign exchange market. It briefly strengthened to 20. Meanwhile, the Indian currency reversed sharply during the early gains and slid to an all-time low of 95.07, registering a fall of 32 paise over its previous close.
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The rupee’s ongoing weakness is largely attributed to various factors, including the rising crude oil prices, continued geopolitical tensions, and the strength of the US dollar. Elevated global oil prices have intensified concerns over India’s import bill, putting additional pressure on the domestic currency. This is not the first time that the rupee has hit a record low. Earlier on Wednesday, the rupee depreciated 20 paise to close at an all-time low of 94.88 against the US dollar.
Meanwhile, the dollar index stayed strong above the 100 mark, reflecting sustained global demand for the US currency and limiting any meaningful recovery in the rupee. Meanwhile, the Brent crude prices climbed to around $115 per barrel amid fears of potential supply disruptions. On Tuesday, the rupee depreciated by 53 paise to close at 94.68 against the US dollar.
While speaking to news agency PTI, Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP stated, “The main effect on the rupee has been from the rising oil prices, which touched USD 120 per barrel and looked headed for further upside as the US continues with its blockade of Iranian ports, while Iran does not allow any ship/tanker to pass through the Strait of Hormuz.”
Stock Market Update: Nifty 50 index opened at 23,899.20
The Nifty 50 index opened at 23,899.20, falling 278.45 points or 1.15 per cent, while the BSE Sensex opened at 76,582.24, down 914.12 points or 1.18 per cent. Market participants said the sharp rise in crude prices and lack of clarity on the geopolitical situation have led to heightened volatility and risk aversion.
Nifty Auto declined 1.84 per cent, Nifty FMCG fell 1.04 per cent, Nifty Metal dropped 1.25 per cent, Nifty Media slipped 0.96 per cent, and Nifty Private Bank declined 1.48 per cent. Nifty IT was down 0.6 per cent, while PSU Bank stocks also saw pressure, falling 1.73 per cent .In the commodities market, Brent crude futures surged to as high as USD 121 per barrel during early trade, a level not seen in last four years. Meanwhile, the United Arab Emirates said on Tuesday it will leave OPEC effective May 1, in a major blow to the global oil cartel.
