The rupee depreciated 33 paise to close at 94.04 (provisional) against the U.S. dollar on Thursday (November 12, 2026), weighed down by a strong American currency.

Also read | Rupee falls 6 paise to 93.77 against U.S. dollar in early trade

Forex traders said the dollar strengthened on a hawkish Fed speech and rising odds of a rate hike in December.

At the interbank foreign exchange market, the rupee opened at 93.73 against the dollar. During intra-day trade, it witnessed a high of 93.62 and a low of 94.06. The local unit settled at 94.04 (provisional), lower by 33 paise from its previous close.

On Wednesday (November 12), the rupee gained 6 paise to close at 93.71 against the U.S. dollar.

“We expect the rupee to trade with a slight negative bias on positive tone in the U.S. dollar and elevated U.S. treasury yields. Rising expectations of two rate hikes by the Fed amid hawkish tone of Fed speakers also weigh on the rupee,” said Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan.

Mr. Choudhary further noted that positive domestic markets and foreign inflows may support the rupee at lower levels.

“Traders may take cues from weekly unemployment claims and building permits data from the U.S. USDINR spot price is expected to trade in a range of 93.70 to 94.20,” he said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was at 103.03, higher by 0.12%.

Brent crude, the global oil benchmark, was trading 0.55% lower at $92.25 per barrel in futures trade.

On the domestic equity market front, Sensex advanced 31.61 points to settle at 81,911.01, while the Nifty rose 44.30 points to close at 25,299.35.

Foreign institutional investors (FIIs) purchased equities worth ₹12,563.33 crore on Wednesday (November 11), according to exchange data.