Rupee Retreats on Middle East Tensions; USDINR Faces 93.40 Resistance

Authored By HDFC SKY | Last Modified: Apr 20, 2026 05:37 PM IST

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The Indian rupee retreated after two sessions of gains, as geopolitical friction in the Middle East sparked fresh volatility in the financial markets. The local currency came under pressure following the US Navy’s seizure of an Iranian ship, an event that underscored growing uncertainties regarding energy flows through the vital Strait of Hormuz and sent crude oil prices higher. This downward momentum was further compounded by a rebound in the greenback and a shift toward risk-averse sentiment among investors.

The spot USDINR is currently having support at 92.60 while facing resistance at 93.40.

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