Rupee closed higher at 93.6000 per Dollar on Thursday (02 April 2026), versus its previous close of 95.0150 per Dollar on Monday.

The Indian rupee logged one of its steepest single-day gains in many years and settled 156 paise higher at 93.14 (provisional) against the US dollar on Thursday after the Reserve Bank stepped in with a slew of measures to restrict banks from onshore forward markets. INR hit a high of 92.82 at one point of time. The dollar index regained momentum above 100 mark on Thursday, after a sharp drop in the previous session. Trump speech has created a sense of uncertainty, driving investors back to safe haven dollar. Meanwhile, domestic markets staged a gap-down opening, with benchmark indexes Sensex and Nifty declining around 2 percent in early trade, as U.S. President Donald Trump`s address to the nation on the war in the Middle East damped hopes for a swift resolution to the conflict. The domestic unit, however, remained under pressure due to the unabated withdrawal of foreign capital, a strengthening dollar, and rising crude oil prices amid a volatile geopolitical situation. At the interbank foreign exchange, the rupee opened at 94.62 and registered a sharp single-day surge of 188 paise to touch an intra-day high of 92.82 against the greenback. At the end of the session, the rupee was quoted at 93.14 (provisional) against the dollar, higher by 156 paise, or 1.6 per cent, from its previous closing level.

The dollar index regained momentum above 100 mark on Thursday, after a sharp drop in the previous session. Trump speech has created a sense of uncertainty, driving investors back to safe haven dollar. US President Donald Trump crushed hopes of a swift end to the Iran war and sent the greenback higher across the board. US ADP Employment Change showed a 62K net job increase in March, beating expectations of a 40K rise, while February�s data was revised up to a 66K increase from previous estimations of 63K. The ISM Manufacturing Purchasing Managers� Index (PMI) improved to 52.7, its highest reading since August 2022, from 52.4 in February, also beating estimations of a slower improvement, to 52.5. The focus now is on the Nonfarm Payrolls report, due on Friday. DXY, which measures the greenback against a basket of currencies is quoting at 100.08, up 0.62% on the day.

British Pound slumped today, giving up gains seen in last session as the US dollar spiked amid general sense of risk aversion in equities. UK stocks fell in early trade on Thursday as oil prices jumped after Donald Trump said in his first national address since the start of the war that the US would hit Iran extremely hard in the coming weeks. The UK benchmark equity index FTSE 100 slipped more than half a percent. Brent crude was up around 6.5% at $108 a barrel. GBP/USD pair is currently down 0.75% at 1.3199, falling near four-month lows and paring gains of 0.55% in last session. On NSE, GBP/INR futures fell 1% to quote at 124.75 amid choppy trading.

The Japanese yen came under renewed pressure on Thursday as the US dollar index rebounded toward the 100 mark, snapping a brief two-day losing streak. The greenback�s resurgence has been largely fueled by persistent safe-haven demand, as ongoing geopolitical tensions continue to rattle global markets. Despite traditionally being viewed as a defensive currency, the yen struggled to capitalize on the risk-off mood, instead yielding ground to a more dominant dollar. The US currency has already posted a notable 2.3% gain over the past month, underscoring its growing appeal among investors seeking stability. This divergence highlights a shifting dynamic in safe-haven flows, where the dollar is increasingly overshadowing the yen, leaving the Japanese currency vulnerable in the near term as uncertainty continues to linger.