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Currency Buzz: INR extends weakness to 4-week low
23-Apr-2026 11:07

The Indian rupee extended weakness to a four-week low beyond Rs 94 per dollar mark on Thursday as dollar firmed and oil prices soared amid renewed tensions in Middle East. Greenback receives support from heightened safe-haven demand amid ongoing Middle East uncertainty and the blockade of the Strait of Hormuz. INR opened at Rs 94.03 per dollar and hit a low of 94.17 so far during the day. Yesterday, rupee closed at 93.78 against the US dollar. Intense selling in domestic equity markets and sustained outflow of foreign capital also weighed on the Indian currency. The Indian stock market opened in deep red due to weak global cues and rising oil prices. The Sensex plummeted over 800 points, opening below 78,000, while the Nifty 50 opened below 24,200.

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