Rupee slips 15 Paise to 94.48 against US Dollar in early trade
The rupee weakened by 15 paise to 94.48 against the US dollar in early trade on Monday, pressured by a stronger American currency in global markets despite continued foreign inflows into domestic debt and deposits.
At the interbank foreign exchange market, the rupee opened at 94.42 against the dollar, down from its previous close of 94.33. Currency traders said the domestic unit remained volatile as improving capital inflows supported the rupee, while geopolitical tensions in West Asia and a firm US dollar weighed on sentiment.
Market experts noted that the 94.00–94.20 range remains a key support zone for the rupee, while 94.80–95.00 is seen as immediate resistance. Analysts believe stable oil prices and stronger debt inflows could help the rupee appreciate towards the 94.00–93.80 range in the near term.
Globally, investor focus remained on developments in the Iran-US diplomatic process and uncertainty surrounding the Strait of Hormuz, a crucial route for global energy supplies. Meanwhile, the dollar index edged higher to 100.87, reflecting continued strength in the US currency.
Brent crude fell 1.28 per cent to USD 79.54 per barrel, offering some relief to import-dependent economies like India. On the domestic equity front, benchmark indices opened higher, with the Sensex rising over 400 points and the Nifty crossing the 24,100 mark. Foreign institutional investors (FIIs) were net buyers on Friday, purchasing equities worth ₹4,859 crore.
