News

Rupee breaches 95 per dollar for first time since March 30The rupee opened at 95.02 per US dollar, compared with Wednesday’s  (April 29's) close of 94.85.By Anshul  April 30, 2026, 9:11:30 AM IST (Published)2 Min ReadThe Indian rupee weakened past the 95-per-dollar mark on Thursday (April 30), tracking a stronger US currency and rising global crude oil prices, while persistent foreign outflows added to the pressure.

The rupee opened at 95.02 per US dollar, compared with Wednesday’s (April 29's) close of 94.85. This marks a decline of 17 paise, or about 0.18%, at the open. During early trade, the currency slipped beyond 95/$ for the first time since March 30.

The latest fall comes after hawkish signals from policymakers at the Federal Reserve pushed up the dollar and US bond yields. Although the central bank kept policy rates unchanged overnight, the decision showed the sharpest division since 1992, with three officials dissenting over guidance that continued to indicate a tilt towards easing.

Market participants said the combination of elevated US yields and a firm dollar has reduced the appeal of emerging market currencies, including the rupee.

Adding to the pressure, crude oil prices extended their rally.

Brent crude hovered near $121 per barrel, on track for a weekly rise of around 14%. Higher oil prices typically widen India’s trade deficit and increase demand for dollars, weighing on the local currency.

Traders pointed to continued foreign fund outflows and steady dollar demand from importers as key drivers of the rupee’s weakness.

Data from the National Securities Depository Limited showed foreign investors sold a net $210.7 million worth of Indian equities and $10.9 million of bonds on April 28.

The rupee is now headed for its third straight weekly decline, having erased most of the gains recorded earlier this month after the Reserve Bank of India introduced measures to curb speculative positions in the currency market.

Meanwhile, state-run refiners have reportedly scaled back the use of a special foreign exchange credit line designed to reduce spot dollar purchases for oil imports, adding to near-term dollar demand in the market.

The dollar index stood at 98.91, while the yield on the 10-year US Treasury note hovered around 4.42%.

-With Reuters inputsContinue ReadingTagsDollarRBIrupeerupee vs dollar