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Indian rupee opens 10 paise higher at 93 against U.S. dollar
The rupee has gained around 2% over the past week following the Reserve Bank of India’s measures to curb volatility
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IANS - Mon, 06, Apr 2026
- 04:37 EDT
- 23
Representative image / IANS
The Indian rupee opened 10 paise higher at 93 against the U.S. dollar on Aoril 6, as traders continued to unwind speculative positions in the offshore non-deliverable forwards market.
The domestic currency was trading at 93 per dollar in early trade, compared with its previous close of 93.10. Currency and fixed-income markets remained closed April 3 on account of Good Friday.
The rupee has gained around 2% over the past week following the Reserve Bank of India’s measures to curb volatility and crack down on excessive speculation in offshore markets.
The central bank’s recent directives, among the strictest in more than a decade, have prompted banks to unwind arbitrage positions, impacting the multibillion-dollar offshore market.
Traders are also closely watching Brent crude prices and foreign institutional investor flows, both of which continue to weigh on sentiment.
Attention will now shift to the Reserve Bank of India’s Monetary Policy Committee meeting, which began Monday and will conclude April 8. Economists largely expect the central bank to keep interest rates unchanged.
Analysts said the dollar-rupee pair is currently trading in the 92.80–93 range after cooling from recent highs near 94.80, supported by Reserve Bank of India intervention.
A move above 93 could push the pair toward the 93.50–93.80 range, while immediate support is seen at 92.60–92.40. The near-term trend remains slightly positive, though direction will depend on dollar strength and global risk sentiment, according to analysts.
On the global front, market participants are tracking crude oil prices amid rising geopolitical tensions after U.S. President Donald Trump set a deadline for Iran to reopen the Strait of Hormuz, raising concerns over supply disruptions.
The strategic shipping route, which handles more than 20% of global crude flows, has remained largely closed since late February following an escalation in conflict.
Brent crude was trading around $110 per barrel, up nearly 1% from the previous session.
Meanwhile, domestic equity benchmarks were trading lower, with the Sensex falling 529 points, or 0.72%, to 72,790, while the Nifty declined 150 points, or 0.66%, to 22,561 in early trade.
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