Rupee strengthens against US dollar in early trade on Monday
The Indian rupee strengthened against the US dollar in early trade on Monday, driven by Reserve Bank of India intervention and new regulatory curbs on bank positions. Late Friday, the Reserve Bank of India (RBI) capped banks' Net Open Position in Rupee (NOP-INR) at $100 million per business day, effective April 10, 2026. Meanwhile, weakness in the American currency has also supported rupee sentiments. However, rising oil prices, foreign fund outflows and ongoing Middle East geopolitical tensions, have limited further gains in the rupee. Foreign institutional investors sold equities worth Rs 4,367.30 crore on a net basis on Friday, exchange data showed.
The partially convertible currency is currently trading at 94.41, stronger by 44 paise from its previous close of 94.85 on Friday. The currency touched a high and low of 94.47 and 93.57 respectively.
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