The rupee depreciated 11 paise to 94.27 against U.S. dollar in early trade on Monday (April 27, 2026) driven by persistent dollar demand and a broader shift toward safe-haven assets.

Forex traders said the Indian rupee has hit a rough patch, falling for five consecutive sessions, weighed down by a combination of factors such as the RBI loosening its grip on currency rules and rising oil prices caused by global tensions.

Moreover, investors are becoming cautious again, with foreign institutions pulling money out of the market after a brief period of buying amid rising geopolitical uncertainty.