The rupee opened flat at ₹96.31 against the U.S. dollar, only to slide 0.09% to ₹96.41 in early trade, as the dollar index climbed above 102 for the first time in weeks—
Oil prices have held steady near $90 a barrel, while U.S. Treasury yields climbed to fresh 24‑year highs, pushing the dollar higher and adding pressure on the rupee—
The Reserve Bank of India has been active, selling dollars to support the currency whenever it hits a trough, but traders say the central bank’s aim is to smooth volatility rather than defend a rigid peg—
Importers now face higher costs for dollar‑denominated purchases, notably crude oil, and consumers may see a rise in travel and education expenses tied to foreign currencies—
If the underlying macro pressures persist, pundits warn the rupee could drift toward ₹97 per dollar before RBI steps in again—
Investors will watch the upcoming RBI policy meeting and the next set of earnings reports from major exporters for clues on how the currency might behave in the coming weeks—