Rupee falls 30 paise to 94.63 against Dollar amid Middle East uncertainty

The rupee declined 11 paise to close at 94.74 (provisional) against the U.S. dollar on Tuesday (June 23, 2026), weighed down by a firm greenback and weak domestic markets.

However, a decline in global crude oil prices cushioned against a sharper decline in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 94.73 against the U.S. dollar and traded in a range of 94.63-94.92 before settling at 94.74 (provisional), down 11 paise from its previous close.

The rupee depreciated 30 paise to close at 94.63 against the U.S. dollar on Monday (June 23).

"The rupee declined on a firm U.S. dollar and weak domestic markets. Importers' demand for hedging also weighed on the domestic currency. However, falling crude oil prices and a softening in U.S. Treasury yields cushioned the downside. The U.S. waiver on sanctions on Iranian oil has led to a sharp fall in oil prices," Anuj Choudhary, Research analyst at Mirae Asset ShareKhan, said.