Rupee slips to 95.35 after Iran missile strikes on Israel
The Indian rupee slipped to 95.35 against the US dollar on Monday, losing 17 paise.
This happened as oil prices shot up: Brent crude climbed over 3% after Iran's missile strikes on Israel made everyone nervous about energy supplies.
A stronger US dollar, thanks to upbeat American economic data, added extra pressure.
Rupee gains erased, Sensex tumbles
Just last Friday, the rupee had bounced back with a 56 paise gain after RBI moves to attract foreign capital. But those gains vanished quickly as geopolitical worries took over.
Stock markets felt the impact too: Sensex dropped more than 700 points, and Nifty fell by over 200 points in early trading.
India's forex reserves rise amid volatility
Even with all this turmoil, India's foreign exchange reserves actually rose by $938 million in the week ended May 28, 2026 to $682.32 billion.
Still, the US dollar-rupee rate is staying pretty volatile, and traders are closely watching news from West Asia and US economic updates for what happens next.