Rupee Falls 14 Paise to Close at 94.65 Against U.S. Dollar

New Delhi, India Jul 1, 2026 ALN: The rupee depreciated by 14 paise to close at 94.65 (provisional) against the U.S. dollar on Tuesday, June 30. This decline was attributed to a strengthening greenback overseas and risk-averse investor sentiment weighing on the local currency.

Forex traders noted that the rupee slipped to 94.58 against the U.S. dollar, driven by month-end corporate import demand and lingering risk-off sentiment. However, relatively stable global crude prices and anticipated central bank interventions provided some support to the currency, preventing a more significant decline.

At the interbank foreign exchange market, the rupee opened at 94.60 against the American currency and ultimately closed for the day at 94.65 (provisional), marking a decline of 14 paise from its previous close.

On the previous trading day, the rupee had pared initial gains and settled lower by 6 paise at 94.51 against the dollar.

Dilip Parmar, Research Analyst at HDFC Securities, commented, "The Indian rupee has depreciated for the third consecutive session, weighed down by persistent safe-haven flows into the greenback and strong corporate dollar demand. Broader risk-off sentiment across global markets continues to keep the domestic currency under pressure."

Mr. Parmar further added that from a technical standpoint, the spot USD/INR faces immediate resistance at 95.10, while a breakdown below 94.40 will act as key support.

Experts indicated that month-end and quarter-end dollar demand is keeping the dollar well bid. Importers, corporates, and banks typically use this period to square positions and meet payment obligations.

Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was trading at 101.34, up 0.23%.

Brent crude, the global oil benchmark, was trading lower by 0.37% at $72.88 per barrel in futures trade.

On the domestic equity market front, the Sensex declined by 249.70 points to settle at 76,478.67, while the Nifty fell by 80.50 points to 23,865.75.

Foreign institutional investors sold equities worth ₹1,350.1 crore on a net basis on Monday, according to exchange data.

In related news, U.S. Ambassador to India, Sergio Gor, stated on Tuesday that the U.S.-India trade deal is in its "final steps," with only the last one percent of negotiations remaining to be concluded.

Addressing the U.S.-India Strategic Partnership Forum Leadership Summit, Mr. Gor expressed his determination to finalize the agreement, emphasizing that it would be beneficial for both nations, following nearly 18 months of discussions.