The rupee exchange rate fell 5 paise to 94.98 per US dollar in early trading on October 26, 2026, as elevated crude oil prices and tensions in West Asia weighed on sentiment.

Rupee exchange rate opens lower

The currency opened at 94.92 per dollar in the interbank foreign exchange market before weakening to 94.98. It had closed at 94.93 on the previous Friday, after a 12-paise decline that marked its second consecutive daily fall.

Anuj Choudhary, a research analyst at Mirae Asset Sharekhan, said a softer US dollar and lower US Treasury yields cushioned the rupee’s downside. He expected a slight negative bias amid global risk aversion, while noting that any fresh Reserve Bank of India intervention could support the currency.

Oil prices and reserves in focus

Brent crude futures traded 1.92% higher at $114.48 a barrel, while the dollar index, which measures the US currency against six peers, slipped 0.15% to 101.49.

Reserve Bank of India data released on Friday showed foreign exchange reserves fell $5.011 billion to $721.016 billion in the week ended October 16. Foreign institutional investors purchased a net ₹887.65 crore of Indian equities on Friday, exchange data showed.

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