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The rupee traded in a narrow range against the U.S. dollar on Monday, hovering around 96, ahead of the RBI's monetary policy decision this week.
Rupee began the week on a cautious note, struggling to move away from the 96-per-dollar level, as high crude oil prices and continued foreign fund selling keeping the currency under pressure. On Monday, rupee opened at 96.20 against the US dollar before weakening to 96.26, down 1 paisa from its previous close.
The Indian rupee hit fresh lows in 2026, pressured by high oil prices, portfolio outflows, a wider trade deficit, and a stronger US dollar.