Metro India News | NEW DELHI

The Indian rupee extended its losing streak for the fourth consecutive session on Monday, ending 8 paise lower at 90.28 against the US dollar, pressured by a firm American currency and weak sentiment in domestic equity markets.

At the interbank foreign exchange market, the rupee opened at 90.21 and weakened further during the session, touching an intraday low of 90.50 before settling at 90.28 (provisional). The currency has now depreciated by 53 paise since December 30, 2025, when it closed at 89.75 against the dollar.

Forex traders said renewed geopolitical tensions following US military action in Venezuela boosted global demand for the safe-haven dollar. This development overshadowed some supportive factors for the rupee, including declining crude oil prices and recent foreign fund inflows.

The rupee had already come under pressure in the previous sessions, losing 22 paise on Friday, after a 10-paise fall on Thursday and a 13-paise decline on the last trading day of the previous calendar year. The persistent weakness reflects sustained demand for the US dollar amid global uncertainty.

Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee slipped mainly due to geopolitical tensions between the US and Venezuela, which strengthened the dollar index on safe-haven demand. However, he noted that lower crude oil prices and foreign institutional investor inflows seen on Friday helped limit sharper losses.

Choudhary added that falling crude prices could provide support to the rupee at lower levels, while any intervention by the Reserve Bank of India may also help stabilise the currency. He said traders are likely to watch the US ISM manufacturing PMI data for further cues, with the USD-INR spot expected to trade in the range of 90 to 90.60.

Meanwhile, the dollar index, which measures the greenback against a basket of six major currencies, was trading 0.24 per cent higher at 98.39. Brent crude oil prices declined 0.36 per cent to USD 60.53 per barrel in futures trade, offering some relief to oil-importing countries like India.

Domestic equity markets also weighed on the rupee. The Sensex fell 322.39 points to close at 85,439.62, while the Nifty declined 78.25 points to end at 26,250.30.

Foreign institutional investors turned net buyers on Friday, purchasing equities worth Rs 289.80 crore. Meanwhile, RBI data showed India’s foreign exchange reserves rose by USD 3.293 billion to USD 696.61 billion in the week ended December 26, providing a strong external buffer.