The rupee depreciated 24 paise to 94.39 against the U.S. dollar in early trade on Tuesday (April 28, 2026), weighed down by elevated crude oil prices and month-end dollar demand amid a broader shift toward safe-haven assets.

Forex traders said Brent oil continued to move higher at $109 per barrel, keeping India’s position vulnerable.

Moreover, factors such as unabated foreign capital outflows amid rising geopolitical uncertainties dented investor sentiments further.