Rupee falls 12 paise to close at 95.74 against US dollar
At the interbank foreign exchange market, the rupee opened at 95.58 against the US dollar, then gained ground and touched an intraday high of 95.57 against the American currency in intraday trade
The Indian rupee slipped 12 paise on Wednesday, closing at 95.74 against the US dollar, as it faced pressure from the dollar's strength and a modest rise in crude oil prices. Forex traders attributed the dollar's rise to optimistic remarks from US Federal Reserve officials, who suggested a potential interest rate increase in 2026.
Despite this, positive domestic market conditions helped the rupee maintain a relatively strong position. Throughout the trading day, the rupee started at 95.58 and reached a peak of 95.57, before dipping to a low of 95.76, ultimately closing at 95.74, which was 12 paise less than its prior close. On Tuesday, the rupee had climbed 16 paise to reach 95.62 against the US dollar.
Analysts anticipate a positive trend for the rupee, buoyed by hopes of a diplomatic resolution between the US and Iran, as indirect negotiations at the United Nations General Assembly could boost global risk sentiment. However, a weak dollar and renewed tensions between the US and Iran could limit the rupee's upward movement. Forex experts suggest that traders should monitor flash manufacturing and services PMI data from the US for guidance.
The dollar index, which measures the greenback's strength against six major currencies, rose to 100.87, up 0.27 percent. Meanwhile, Brent crude oil prices increased by 0.26 percent, reaching $99.51 per barrel in futures trading. On the domestic stock market, the Sensex climbed 299.17 points to close at 74,828.25, while the Nifty gained 117.80 points to reach 23,446.80. On Tuesday, foreign institutional investors sold equities worth ₹3,809.99 crore.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
