New Delhi, November 9, 2026 (Yes Punjab News)
The Indian rupee strengthened by 25 paise to 93.68 against the US dollar in early trade on Monday, supported by falling crude oil prices, improved foreign fund inflows and hopes of easing tensions in West Asia.
The domestic currency extended its recovery after registering its strongest weekly advance of 2026 last week, gaining around 1 per cent to reach its highest level since April.
On Friday, the rupee had appreciated by 43 paise to close at 93.98 against the US dollar.
Market experts said the USD/INR pair opened near 93.90 and was trading around 93.70, extending its recent decline after breaking below the 94.40-94.50 range.
The 94 mark, which had earlier provided support, has now emerged as immediate resistance. Analysts have placed the first resistance zone at 93.90-94.00, followed by a stronger hurdle at 94.40-94.50.
On the downside, immediate support is seen at 93.40-93.50, with the next level around 92.90-93.00. A sustained move above 94 could signal stabilisation, while a decisive break below 93.50 may open the way towards 93.
The rupee’s recent gains have been supported by foreign portfolio investment inflows of around $1.5 billion, a weaker US dollar, lower crude prices and reduced concerns over India’s exposure to energy imports.
Brent crude, the global oil benchmark, was trading 0.15 per cent lower at $98.17 per barrel in futures trade on Monday.
Sentiment also improved after US President Donald Trump indicated that further military strikes against Iran were unlikely if negotiations over its nuclear programme and the Strait of Hormuz made significant progress.
Meanwhile, the US dollar index slipped towards 102, although stronger-than-expected American employment data continued to support expectations of tighter monetary policy. Markets were pricing in an approximately 81 per cent probability of a Federal Reserve rate hike in December, compared with 71 per cent before the employment report.
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