Rupee falls 10 paise to close at 93 against USD

The rupee lost 10 paise to close at 93 (provisional) against the US dollar on Tuesday, April 7, 2026, as investors remained tense ahead of US President Donald Trump’s deadline for opening the Strait of Hormuz and the Central Bank’s monetary policy review.

Forex traders said the USD/INR pair was trading under pressure due to unabated withdrawal of foreign capital, strengthening dollar and rising crude oil prices amid volatile geopolitical situation.

Moreover, market participants will continue to be wary of evolving geopolitical headlines and RBI’s upcoming monetary policy decision.

The rupee, which opened at 93.05 against the dollar in the interbank foreign exchange market, was traded at 93.07, down 17 paise from the previous close. During the day, the rupee touched its intraday high of 92.86 against the US dollar.

At the end of the trading session on Tuesday, April 7, 2026, the rupee was trading at 93.00 (provisional), down 10 paise from its previous close.

The rupee rose by 28 paise to close at 92.90 against the US dollar on Monday, April 6, 2026, following the Central Bank’s measures to curb speculative excitement and reduce volatility in the Indian currency.

The RBI has tightened its rules to curb speculative positions and capped banks’ net short positions at $100 million.

Meanwhile, the Central Bank’s rate-setting panel began its three-day brainstorming session on monetary policy for the first two months of the fiscal year on Monday, April 6, 2026. The decision of the six-member Monetary Policy Committee (MPC), chaired by Central Bank Governor Sanjay Malhotra, will be announced on Wednesday, April 8, 2026.

The dollar index, which measures the dollar’s strength against a basket of six currencies, fell by 0.15% to 99.83.

Global oil reference Brent crude oil was traded at $107.61 per barrel, down 1.97 percent in futures.

In the domestic stock market, Sensex increased by 509.73 points to 74,616.58 points and Nifty increased by 155.40 points to 23,123.65 points.

According to stock exchange data, Foreign Institutional Investors sold shares worth ₹ 8,167.17 crore on Monday, April 6, 2026.

Meanwhile, the deadline given by US President Donald Trump to open the Strait of Hormuz expires today and Iran still does not give up on its ceasefire offer.