Rupee rises 11 paise to settle at 95.88 against U.S. dollar
The Indian rupee appreciated by 11 paise to settle at 95.88 against the U.S. dollar, driven by lower crude oil prices and easing tensions in West Asia. Despite this gain, market sentiment remains cautious due to upcoming U.S. Federal Reserve policy decisions and foreign capital outflows.
Why it matters
Currency fluctuations impact inflation and import costs, making this a key indicator for the health of the Indian economy.
The rupee stayed on upward track for the third straight session and ended 11 paise higher at 95.88 (provisional) against the U.S. dollar on Tuesday (July 28 2026), supported by lower crude oil prices amid signals of easing West Asia crisis.
According to Forex traders, the sustained outflow of foreign capital amid selling pressure in domestic equity markets, as well as an elevated dollar index ahead of the U.S. Federal Reserve's policy decision, capped gains for the local currency.
At the interbank foreign exchange, the rupee opened at 95.75 and touched the intraday high of 95.63 before ending the session at 95.88 (provisional) against the greenback, up 11 paise from its previous closing level.
On Monday (July 27, 2026), the rupee appreciated sharply by 54 paise to close at 95.99 against the U.S. dollar, after rising 20 paise in the preceding session on Friday (July 24, 2026).
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