U.S. to drop graft charges against Gautam Adani: NY Times
Image used for representational purposes only. | Photo Credit: Getty Images/iStockphoto The rupee depreciated 47 paise to close at 95.73 (provisional) against the U.S. dollar on Tuesday (May 26, 2026), on renewed geopolitical tensions in West Asia and a rise in crude oil prices.Forex traders said a strong U.S. dollar and weak domestic markets also pressured the rupee. At the interbank foreign exchange market, the rupee opened at 95.43 against the U.S. dollar, and touched an intra-day high of 95.33 and a low of 95.76 against the American currency.At the end of Tuesday's (May 26) close, the rupee was quoted at 95.73 (provisional), down 47 paise from its previous closing. On Monday (May ), the rupee gained 34 paise to close at 95.26 against the U.S. dollar with the RBI selling dollars and keeping the rupee well bid at all upper levels."We expect the rupee to trade with a negative bias on uncertainty between the U.S. and Iran and concerns over military action in the West Asia."However, softening of crude oil prices from higher levels may support the rupee at lower levels. USD-INR spot price is expected to trade in a range of 95.20 to 95.85," said Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan.Forex traders said the rupee remains vulnerable to rising crude oil prices and the strength of the American currency in the overseas market.The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.05, down 0.19%.Brent crude, the global oil benchmark, was trading up 3.43% at $99.94 per barrel in futures trade after reports that the U.S. had carried out fresh attacks against Iran, offsetting hopes of a deal to reopen the Strait of Hormuz.U.S. President Donald Trump on Monday (May 25) said negotiations with Iran to end the war were progressing "nicely", but officials pointed out that a final decision may take some time due to the complex communication networks Tehran deploys to consult with its supreme leader.On the domestic equity market front, Sensex dropped 479.26 points to settle at 76,009.70, while the Nifty declined 118 points to 23,913.70.Foreign institutional investors turned net buyers and purchased equities worth ₹821.75 crore on Monday (May 25), according to exchange data. Published - May 26, 2026 04:22 pm IST
