Mumbai: Indian rupee made a smart recovery in the new financial year so far, gaining about 191 paise against the US dollar. This has come on the back of RBI measures to counteract the depreciation pressure it faced since the US-Israel axis launched air strikes against Iran on February 28, 2026.
The Indian currency closed about 28 paise stronger on Friday at 92.9250 per dollar, against the previous close of 93.20. Overall, it gained 81 paise against last Friday’s close of 93.73.
As compared to the March 30, 2026 ) closing and intraday low levels of 94.83 and 95.21, respectively, the Rupee has bounced back substantially in 10 trading sessions in April 2026 so far.
Rupee Rally
The Rupee, which declined about 10 per cent in FY26 against the dollar and became one of the worst-performing Asian and Emerging Market Economy currencies, has had a remarkable turnaround in the current financial year so far, gaining about 2 per cent, with the central bank pulling the levers to stop speculation and arbitrage.
While the Rupee has made smart gains against the Dollar so far, three EME currencies appreciated more than 5 per cent: Hungarian Forint (9 per cent), Russian Ruble (7.1 per cent) and Chilean Peso (5.6 per cent).
