3 days ago
1
The rupee opened with a antagonistic bias amid a beardown dollar and rising U.S. treasury yields and depreciated 18 paise to 96.38 against the U.S. dollar arsenic marketplace sentiments proceed to dampen amid simmering tensions betwixt the U.S. and Iran.
Forex traders said rupee remains susceptible to the emergence successful crude lipid prices arsenic besides the closure of the Strait of Hormuz hampering its exports and imports to the Gulf countries.
At the interbank overseas speech market, the rupee opened astatine 96.38 against the U.S. dollar, registering a autumn of 18 paise from its erstwhile close.
On Monday (May 18, 2026), the Indian rupee weakened further and closed astatine a grounds debased of 96.20 against the U.S. dollar.
"The market’s biggest situation close present is not conscionable absorption — it's confidence. Until determination is disposable cooling successful planetary tensions and stableness successful overseas flows, the rupee whitethorn proceed trading nether unit with volatility staying elevated," CR Forex Advisors MD Amit Pabari said.
Mr. Pabari further added that technically, 94.80–95.10 is expected to enactment arsenic an important enactment portion for USD-INR. However, with nary meaningful signs of easing successful planetary hazard factors, the brace present appears to beryllium gradually shifting its absorption toward the 97 mark.
Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was trading astatine 99.10, little by 0.09% owed to simmering Iran tensions.
Brent crude, the planetary lipid benchmark, was trading down 1.91% astatine $109.96 per tube successful futures trade.
On the home equity marketplace front, Sensex climbed 366.71 points to 75,706.88 successful aboriginal trade, portion the Nifty precocious 107.45 points to 23,760.
Foreign Institutional Investors remained nett buyers for the 3rd consecutive session, purchasing equities worthy ₹2,813.69 crore connected Monday (May 18, 2026), according to speech data.
Meanwhile, a elder petroleum ministry authoritative connected Monday (May 18, 2026) said India has been purchasing Russian lipid irrespective of U.S. sanctions waivers and volition proceed to bash truthful based connected commercialized viability and vigor information needs.
"Regarding the American waiver connected Russia, I would similar to emphasise that we person been purchasing from Russia earlier... earlier waiver also, during waiver also, and present also," Sujata Sharma, associated caput successful the petroleum ministry, told reporters astatine a media briefing.
