Rupee rises 5 paise to 95.77 against U.S. dollar in early trade
The Indian rupee appreciated against the U.S. dollar, supported by positive domestic equity market sentiment and foreign institutional investment. Meanwhile, global oil prices remain volatile due to ongoing geopolitical tensions involving the U.S. and Iran.
Why it matters
Currency fluctuations and oil price volatility directly impact India's inflation, trade balance, and overall economic stability.
The rupee appreciated by 5 paise to 95.77 against the U.S. dollar in early trade on Wednesday (July 29, 2026), staying firm for the fourth consecutive day amid a weak American currency and lower crude oil prices.
The local currency also found support from positive domestic equity market sentiment after Foreign Institutional Investors turned to buying Indian stocks, according to forex traders.
At the interbank foreign exchange, the rupee opened at 95.70 and slipped to 95.77 against the greenback, registering a gain of 5 paise from its previous close.
The Indian 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.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading down 0.12% at 101.14, ahead of the Federal Reserve monetary policy announcements.
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