Indian Rupee Weakened for Third Consecutive Session Amid Mixed Asian Currency Trends

Indian Rupee Continues Downward Trend Against US Dollar

The Indian Rupee (INR) opened on a weaker note and extended its decline against the US Dollar for the third consecutive session on April 30. This decline was largely driven by hawkish signals from some Federal Reserve policymakers, which lifted the dollar and US bond yields, compounding pressure from an unabated rise in oil prices.

The domestic currency opened lower by 17 paise at 95.02 per dollar on Friday, compared to its previous close of 94.85. This marks a new low for the rupee, which touched an all-time low of 95.12 on March 30, 2026.

According to Finrex, the rupee is expected to open at 94.95 and move within a range of 94.75 to 95.25, with a risk of further downside. The main effect on the rupee has been from the rising oil prices, which again touched $120 per barrel and appear headed for further upside as the US continues its blockade of Iranian ports, while Iran does not allow any ship or tanker to pass through the Strait of Hormuz.

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For exporters, the rising dollar presents an opportunity to sell on upticks, while importers must wait for a correction to buy dollars. In the broader market, the dollar hovered near its highest level in more than two weeks after some Federal Reserve policymakers turned hawkish, sending yields to a one-month top.

A comparison of Asian currencies against the US dollar in early trade shows a mixed performance. The following table highlights the key movements:

In contrast, the South Korean Won emerged as the top gainer, rising by 0.188%, followed by the Japanese Yen, which appreciated by 0.112%. The Singapore Dollar also posted a mild gain of 0.078%, while the Thai Baht remained almost unchanged.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline