Rupee decreases by 15 paise to 94.48 against the U.S. dollar in early trading

Rupee Weakens Amid Market Fluctuations

The Indian rupee dropped by 15 paise to 94.48 against the US dollar during early trading on Monday, June 22, 2026. This decline was largely attributed to the US dollar’s strength in international markets.

Forex traders observed that while there were stable debt and deposit inflows supporting the domestic currency, rising tensions in the Middle East and the stronger dollar were creating pressure, leading to fluctuations in the rupee’s value.

In the interbank foreign exchange market, the rupee opened at Rs 94.42—down 9 paise from its previous close. It did see a brief improvement, reaching 94.24 against the dollar in the first trades.

Previously, on June 19, the rupee had nearly offset its early gains, finally settling at 94.33, reflecting a rise of 7 paise against the American currency.

Amit Pavali, MD of CR Forex Advisors, mentioned that the 94.00-94.20 range has become a significant support area for the rupee, while immediate resistance is noted between 94.80 and 95.00. “With debt inflows starting to improve and oil prices remaining relatively steady, there’s a slight tilt towards rupee appreciation. We might see USD/INR moving into the 94.00-93.80 range,” he suggested.

On the global stage, high-level discussions regarding Iranian conflict in Switzerland wrapped up on the same day, with low-level talks scheduled for this week. These discussions between Iran and the US included the establishment of a “deconfliction cell” to address the fighting in Lebanon.

This meeting is considered a starting point for a diplomatic effort spanning 60 days, aimed at achieving a lasting agreement to end hostilities related to Iran.

In another development, Iran reported it had once again closed the Strait of Hormuz, a crucial artery for energy shipments. However, the US maintained that shipping traffic was still ongoing.

Meanwhile, the dollar index, which gauges the dollar’s performance against a selection of six currencies, was slightly up by 0.02%, sitting at 100.87, influenced by a more hawkish stance from the Federal Reserve alongside unstable US-Iran trade negotiations.

Brent crude prices were down by 1.28%, trading at $79.54 per barrel in futures.

Anil Kumar Bhansali, Treasurer and Executive Director at Finrex Treasury Advisors LLP, noted the paradox of negotiations between the US and Iran progressing even while Iran claimed to have closed a vital shipping channel.

On the domestic stock front, the Sensex climbed 407.12 points to 77,210.02 in early trade, and the Nifty gained 114.75 points, reaching 24,129.95.

On Friday, June 19, foreign institutional investors shifted to a buying stance, acquiring shares worth Rs 4,859.07 crore on a net basis, as per exchange data.