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Amid renewed geopolitical tensions between the US and Iran and hovering oil costs, the rupee depreciated by 10 paise to shut at 94.95 (provisional) towards the US greenback on Monday (June 1, 2026). Foreign exchange merchants stated the power of the US forex in abroad markets and tensions between Israel and Lebanon additionally worsened world danger sentiment.
Within the interbank overseas alternate market, the rupee opened at 94.93 towards the US greenback, with an intraday excessive of 94.73 and an intraday low of 95.03. As of the shut of buying and selling on Monday (June 1, 2026), the rupee was buying and selling at 94.95 (provisional), down 10 paise from its earlier closing worth.
On Friday (Might 31, 2026), the rupee appreciated by 73 paise towards the US greenback to shut at 94.85 paise resulting from alleged intervention by RBI. “We count on the rupee to commerce with a slight adverse bias as a result of resurgence of geopolitical tensions and an in a single day spike in oil costs. A stronger greenback and better US Treasury yields may additionally weigh on the rupee,” stated Anuj Chaudhary, analysis analyst at Mirai Asset Sharekhan. Chaudhary additionally identified that persevering with peace talks may stop a pointy decline. “The USDINR spot worth is anticipated to commerce within the vary of $94.60-$95.30,” he added.
Foreign exchange merchants stated consideration now shifted to the RBI Financial Coverage Committee assembly scheduled for June 3-5. The six-member Financial Coverage Committee (MPC), chaired by central financial institution governor Sanjay Malhotra, will announce its resolution on June 5.
In the meantime, the greenback index, which measures the greenback’s power towards a basket of six currencies, rose 0.10% to commerce at 99.04. Brent crude, the world oil benchmark, was buying and selling 3.47% larger at $94.28 per barrel in futures buying and selling.
Within the home inventory market, the Sensex fell 508.40 factors to settle at 74,267.34, whereas the Nifty fell 165.15 factors to 23,382.60. Overseas institutional traders offered shares value Rs 21,158.6 crore on a internet foundation on Friday (Might 29, 2026), in keeping with alternate knowledge.
India’s overseas alternate reserves fell by $7.511 billion to $681.384 billion within the week ended Might 22, in keeping with the most recent RBI knowledge launched on Friday (Might 29, 2026). Within the earlier week, gross sales decreased by $8.094 billion to $688.894 billion. Whole GST collections in Might elevated by 3.2% to over Rs 1.94 billion resulting from elevated provide of products and companies and levies from imported items, in keeping with authorities knowledge launched on Monday (June 1, 2026).
In the meantime, US President Donald Trump stated the US and Iran have been near a “superb deal” however that if the US did not get what it wished, he would “finish it one other method”. Trump stated the Iranians have been “good negotiators,” however insisted america now held “all of the playing cards” as a result of Iran had been “defeated militarily.”
