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Rupee trades near 93 as RBI measures offset Iran risks

The rupee trades near 93 per dollar as RBI intervention offsets geopolitical risks. Markets watch a Tuesday deadline for Iran to reopen the Strait of Hormuz.

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The currency of India is expected to trade within a narrow range near 93 per dollar on Tuesday, as the market balances central bank intervention against escalating geopolitical tensions. While the Reserve Bank of India has successfully spurred the unwinding of arbitrage positions to support the local unit, the looming threat of a conflict involving Iran continues to cap potential gains.

A collection of Indian banknotes sits atop a newspaper at a currency exchange stand in Delhi, photographed on September 24, 2025. REUTERS/Anushree Fadnavis
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