Rupee gains 16 paise to 95.66 against U.S. dollar
The Indian rupee strengthened against the U.S. dollar for the fourth consecutive session, closing at 95.66. The gain was supported by robust domestic equity inflows and a weakening dollar index ahead of the FOMC meeting.
Why it matters
Currency fluctuations impact India's import costs and inflation, making the rupee's performance a key indicator of macroeconomic stability.
The rupee rose 16 paise to 95.66 (provisional) against the U.S . dollar on Wednesday (July 29, 2026), extending its gaining streak for the fourth straight session, amid hectic buying in domestic equity markets and lower global crude prices.
Foreign capital inflows and a weak American currency ahead of the U.S. Federal Reserve's interest rate decisions also supported the local unit, forex traders said.
At the interbank foreign exchange, the rupee opened at 95.70 and touched the intraday low of 95.80 against the greenback. The unit hit the day's high of 95.48 before ending the session at 95.66 (provisional) against the dollar, up 16 paise from its previous close.
The local currency settled 17 paise higher at 95.82 against the U.S. dollar on Tuesday (July 28, 2026), after gaining 74 paise in the previous two back-to-back sessions.
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