Rupee rises 11 paise to 95.17 against U.S. dollar in early trade on Thursday

The rupee appreciated 11 paise to 95.17 against the U.S. dollar in early trade on Thursday (October 29, 2026) amid a slight easing of the American currency following the U.S. Federal Reserve’s policy announcement.

The U.S. Fed kept interest rates unchanged at 3.75%–4.00% as widely expected, but the market reaction turned mildly dollar-negative, forex traders said.

At the interbank foreign exchange market, the rupee opened at 95.20, then gained ground and touched 95.17 against the U.S. dollar, registering a rise of 11 paise over its previous close.

On Wednesday (October 28, 2026), the rupee closed at 95.28 against the American currency.

According to traders, elevated crude oil prices and firm U.S. yields remain headwinds for the local unit. While foreign exchange reserves of around $721 billion, recent improvement in portfolio flows and the RBI’s presence in the market provide support.

“We therefore see a gradual upward bias in USD-INR within the range, rather than evidence of a disorderly move,” said Anindya Banerjee, head of commodity and currency research, Kotak NEO.

The Fed’s pause has left markets highly sensitive to incoming data: stronger inflation could reinforce expectations of a December hike, while softer numbers could offer relief to bullion and emerging-market currencies.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 102.15, lower by 0.04%.

Brent crude, the global oil benchmark, was trading lower by 1.03% at $114.13 per barrel in futures trade.

On the domestic equity market front, Sensex rose 163.03 points to 73,409.06, while Nifty gained 40.40 points to 22,739.25.

Foreign Institutional Investors (FIIs) bought equities worth ₹871.83 crore on a net basis on Wednesday (October 28, 2026), according to exchange data.