The rupee opened 41 paise stronger at 94.70 per US Dollar, buoyed by reports of the US and Iran reaching an agreement to end the West Asia conflict and consequent fall in crude oil prices.
The Indian currency is currently trading at 94.5725 per USD, up about 54 paise against the previous close of 95.11.
In intraday trades so far, the Rupee has tested a high/ low of 94.5550/ 94.74.
Amit Pabari, MD, CR ForeX Advisors, observed that at the peak of the conflict, Brent crude had climbed above $113 per barrel as traders feared supply disruptions. As hopes of peace grew, prices started falling and are now near $83.
“For India, lower oil prices are always welcome news. Every sustained $10 drop in crude oil reduces India’s import bill by roughly $12-13 billion a year.Lower oil prices mean less demand for dollars from oil companies, reduced pressure on India’s trade balance, and a more supportive environment for the rupee. This is arguably the most positive development for USDINR so far this year,” he said.
With oil prices moving in India’s favor and foreign inflows remaining supportive, the near-term outlook for the rupee remains positive, Pabari said. A sustained move below 94.80 could open the door for a gradual move toward 94.00 and even 93.80 in the coming weeks, per his assessment.
Published on June 15, 2026
