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Rupee slides to 94.86 per dollar as oil eases but dollar demand rises
Economy
Published on 4 May 2026
Oil dips after Hormuz help signals
The rupee weakened to 94.86 per USD, trading in a narrow range as modest dollar inflows and easing oil prices offered only partial support. Importers’ active dollar purchases kept downward pressure on the currency, even after oil fell following hints of US support for ships in the Strait of Hormuz. Investors now look to upcoming earnings and economic data for direction.
- Rupee fell to 94.86 per USD amid tight trading
- Falling oil helped, but importers bought dollars aggressively
- US hints of Hormuz shipping assistance eased oil prices
- Market focus shifts to upcoming earnings and data
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times