The rupee depreciated 41 paise to close at 94.56 (provisional) against the U.S. dollar on Tuesday (April 28, 2026), as elevated crude oil prices and unabated foreign capital outflows amid rising geopolitical uncertainties dented investor sentiments.

Forex traders said the rupee has already weakened quite sharply, factoring in the likely widening of the Current Account Deficit (CAD) and volatile capital flows. Moreover, persistent foreign fund outflows weighed on the rupee, as so far this year, FIIs have pulled out over $19 billion from Indian equities.