Rupee rises 14 paise to close at 94.59 against U.S. dollar
The Indian rupee appreciated by 14 paise to close at 94.59 against the U.S. dollar on September 3, 2026. This gain was driven by significant foreign currency deposits and positive market sentiment regarding foreign inflows.
Why it matters
Currency stability is crucial for India's macroeconomic health, influencing inflation, import costs, and investor confidence in the national economy.
The rupee extended its gaining momentum for the fifth straight session on Thursday (September 3, 2026), appreciating 14 paise to close at 94.59 (provisional) against the U.S. dollar, buoyed by the country's improved balance of payment condition following higher-than-expected foreign currency deposits.
India mobilised a record $127.23 billion through FCNR (B), or foreign currency non-resident (bank) deposits under a special central bank programme aimed at bolstering the country's foreign-exchange liquidity.
Including overseas foreign-currency borrowings (OFCB) and external commercial borrowings (ECB), total inflows under the measures reached $136.377 billion, according to RBI data.
At the interbank foreign exchange market, the rupee opened at 94.30 and touched an intraday high of 94.26 and a low of 94.59 during the session.
At the end of Thursday's trading session, the rupee was quoted at 94.59 (provisional), higher by 14 paise from its previous close.
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