The rupee stayed on upward track for the third straight session and ended 11 paise higher at 95.88 against the U.S. dollar on July 28. File
| Photo Credit: Reuters
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).
Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan, said the rupee strengthened on the halting of strikes between the U.S. and Iran.
“Traders may take cues from CB (Conference Board) consumer confidence data from the U.S. USD-INR spot price is expected to trade in a range of 95.35 to 96.05,” Mr. Choudhary said.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.08% higher at 101.46.
Brent crude, the global oil benchmark, was trading 2.63% lower at $86.04 per barrel in futures trade.
Analysts said oil prices crashed as the U.S. and Iran refrained from attacking each other’s targets for the third consecutive day and mediators achieved progress in getting both sides back to negotiations.
U.S. President Donald Trump said Iran had asked for more discussions, reaching out directly “because we’ve been hitting them very hard.” Iran has, however, said there are no direct talks underway.
On the domestic equity market front, Sensex declined 69.86 points, or 0.09%, to settle at 76,765.92, while the Nifty fell 10.60 points, or 0.04%, to 23,985.35.
Foreign Institutional Investors offloaded equities worth ₹1,688.23 crore on a net basis on Monday (July 27, 2026), according to exchange data.
Published – July 28, 2026 04:55 pm IST
