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Indian rupee weakens against dollar on Monday
May-04-2026

Indian rupee weakened against the U.S. dollar on Monday as ongoing Middle East tensions caused volatility in global markets, raising fears of inflation and economic slowdown. Traders overlooked the report that India’s manufacturing sector growth improved in the month of April 2026, but still marking the second-slowest improvement in operating conditions in nearly four years. According to the survey report, the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) rose to 54.7 in April from 53.9 in March. On the global front, the Canadian dollar weakened against other major currencies in the Asian session on Monday, as the decline in crude oil prices following the commencement of Operation Freedom by President Trump.

Finally, the rupee ended at 95.25 (Provisional), weakened by 41 paise from its previous close of 94.84 on Thursday. The currency touched a high and low of 95.25 and 94.80 respectively.

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