Rupee's real effective exchange rate near 13-year low at 90.96 in April
This story was originally published at 20:07 IST on 22 May 2026
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--RBI: Rupee effective FX rate index 90.96 in Apr vs 92.57 in Mar
--CONTEXT: Real FX rate index for trade-weighted, 40-currency basket
MUMBAI – The rupee's real effective exchange rate, based on a basket of 40 currencies in terms of trade-based weights, fell for the fifth consecutive month in April to a near-13-year low, according to data released by the Reserve Bank of India Friday. The rupee's real effective exchange rate index was 90.96 in April, down from 92.57 in March.
The rupee fell 0.1% against the dollar in April. The dollar index, which measures the strength of the dollar against six major currencies, itself fell 1.8% in April.
"The Indian rupee depreciated in April, though the decline was limited by the temporary ceasefire announcement and various measures undertaken by RBI. Thereafter, the INR (rupee) broadly mirrored the movement in crude oil prices, reflecting the developments in West Asia," the RBI staff said in the State of the Economy article in the central bank's monthly bulletin. "In real effective terms, the Indian rupee depreciated in April due to depreciation of INR in nominal effective terms and relatively lower price index in India vis-a-vis its major trading partners."
The 40-currency basket includes the currencies of Angola, Australia, Bangladesh, Brazil, Canada, Chile, China, Egypt, the European Union, Ghana, Hong Kong, Indonesia, Iran, Iraq, Israel, Japan, Kenya, Kuwait, Malaysia, Mexico, Nepal, Nigeria, Oman, Qatar, Russia, South Korea, Saudi Arabia, Singapore, South Africa, Sri Lanka, Switzerland, Taiwan, Tanzania, Thailand, Turkey, Ukraine, the United Arab Emirates, the UK, the US, and Vietnam. End
US$1 = INR 95.69
Reported by Nandini Sinha
Edited by Rajeev Pai
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