The rupee maintained its upward trajectory, rising 20 paise to 95.30 against the U.S. dollar in early trade on Friday (July 31, 2026), tracking foreign capital inflows and a decline in global crude oil prices.

However, a stronger greenback capped sharper gains in the local unit, forex traders said.

At the interbank foreign exchange, the rupee opened at 95.40 before rising further to 95.30, up 20 paise from its previous close.

Rising for the fifth straight session, the rupee surged 26 paise to close at 95.50 against the U.S. dollar on Thursday (July 30, 2026).

“The rupee is likely to continue to move back and forth in today’s session, gain some strength against U.S. dollar due to modest pullback in oil prices, while expectations of continued intervention from the Reserve Bank of India [RBI] keeps it supported,” Aamir Makda, Commodity and Currency Analyst, Technical Research, Choice Broking.

Meanwhile, the U.S. and Iran each fired barrages of missiles on Thursday (July 30, 2026), as the pattern of back-and-forth strikes took hold again and hope dimmed for any quick resolution.

After a brief respite, the risk of a return to all-out war emerged once more, with the fighting threatening to engulf even more countries. Jordan said on Thursday (July 30, 2026), it intercepted Iranian missiles for the second consecutive day, while Kuwait said a strike in the northern part of the country killed one person.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading up 0.35% at 100.21.

Brent crude futures, the global oil benchmark, were trading sharply down by 0.98% at $88.16 per barrel.

On the domestic equity market front, the Sensex advanced 49.91 points to 77,970.95 in early trade on Friday (July 31, 2026), while the Nifty was up 28 points to 24,343.65.

Foreign Institutional Investors purchased equities worth ₹3,623.51 crore on a net basis on Thursday (July 30, 2026) according to exchange data.

The rupee strengthened by 13 paise to 95.63 against the U.S. dollar in early trade on Thursday (July 30, 2026), supported by positive momentum in domestic equity markets and inflows of foreign capital.

However, the Indian currency’s gain was capped by a strong dollar index after the U.S. Federal Reserve kept interest rates unchanged, forex traders said.

At the interbank foreign exchange, the rupee opened at 95.59 and lost some ground to 95.63 against the greenback, registering a gain of 13 paise from its previous close.

The rupee gained 6 paise to settle at 95.76 against the U.S. dollar on Wednesday (July 29, 2026). The 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 up 0.06% at 101.79.

Brent crude futures, the global oil benchmark, were trading 1.26% lower at $89.60 per barrel.

According to analysts, crude prices reclaimed $90-per-barrel levels amid renewed fear of disruptions in global energy supplies, as fresh flare-ups between the U.S. and Iran, after a brief calm for three days, shattered hopes of ending the five-month conflict in West Asia.

The U.S. military said on Thursday (July 29, 2026), that they have struck ‘dozens’ of targets belonging to Iran’s Revolutionary Guard Corps in ‘a heavy wave of strikes against Iran’ conducted in response to an earlier Iranian missile attack on a U.S. base in Jordan.

On the domestic equity market front, Sensex rose 44.77 points, or 0.06%, to 77,699.37, while the Nifty was up 21.65 points, or 0.09%, to 24,270.20.

Foreign Institutional Investors purchased equities worth ₹2,981.87 crore on a net basis on Wednesday (July 29, 2026), according to exchange data.

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.

Brent crude futures, the global oil benchmark, were trading 4.27% higher but remained lower at $87.68 per barrel.

According to analysts, even as mediators tried to get the U.S. and Iran back to negotiations and toward a ceasefire, crude oil prices rose overnight as the brief pause in fighting was shattered after the U.S. military said that Iran launched multiple ballistic missiles at American forces on Tuesday (July 28, 2026).

All Iranian missiles were successfully intercepted, U.S. Central Command said in a statement, adding that U.S. forces “remain vigilant and at a high state of readiness.”

On the domestic equity market front, Sensex climbed 682.57 points, or 0.89%, to 77,448.49, while the Nifty was up 186.85 points, or 0.78%, to 24,172.20.

Foreign Institutional Investors purchased equities worth ₹755.33 crore on a net basis on Tuesday (July 28, 2026), according to exchange data.

The rupee appreciated sharply by 61 paise to close at 95.92 (provisional) against the U.S. dollar on Monday (July 27, 2026), driven by a steep correction in crude oil prices after the U.S. and Iran paused the war in West Asia, triggering hopes of easing global trade tensions.

According to Forex traders, the local currency also found support from a firm trend in domestic equities and weakness in the U.S. Dollar against major currencies.

At the interbank foreign exchange, the rupee opened at 96.18 and touched the low of 96.27 and the high of 95.78 against the greenback during the session. The local unit finally settled at 95.92 (Provisional) against the dollar, up 61 paise compared to its previous closing level.

On Friday (July 24, 2026), the rupee recovered from its record low levels to settle 20 paise higher at 96.53 against the U.S. Dollar. The Rupee’s all-time low closing level of 96.86 was recorded on May 20.

Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan, said the rupee strengthened to the highest levels in three weeks as the U.S. and Iran halted strikes after two weeks of escalation.

“Falling crude oil prices and the softening of the U.S. Dollar also favoured the rupee. Reports of intervention by the RBI also supported the rupee,” Mr. Choudhary said, adding, “The USD-INR spot price is expected to trade in a range of ₹95.50 to ₹96.20”.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.20% lower at 101.09.

Brent crude, the global oil benchmark, declined 8.95% to $88.12 per barrel in futures trade as the U.S. and Iran halted attacks and hinted at moving on to a negotiation table.

U.S. President Donald Trump is “giving talks some space”, Mike Waltz, the U.S. ambassador to the United Nations, told a news channel.

“He’s giving it a little bit of room,” Mr. Waltz said, adding, “We’ve had both Oman and Iran, and a number of our other negotiators, engaged at every level, from the most senior levels all the way down to the technical level over the past few weeks, and particularly in the past few days.”

On the domestic equity market front, Sensex surged 776.01 points, or 1.02%, to settle at 76,835.78, while the Nifty gained 228.50 points, or 0.96%, to 23,995.95.

Foreign Institutional Investors offloaded equities worth ₹3,892.77 crore on a net basis on Friday (July 24, 2026), according to exchange data.

The rupee rose 5 paise to 96.48 against the U.S. dollar in early trade on Thursday (July 23, 2026), on possible intervention by the Reserve Bank even as heightened tensions in West Asia maintained pressure on global crude oil prices.

Foreign Institutional Investor outflows and sustained negative sentiments in the domestic equity markets added pressure on the local unit, while a weaker greenback provided some respite, forex traders said.

At the interbank foreign exchange, the rupee opened at 96.53 before inching up to 96.48, up 5 paise from its previous close.

The rupee depreciated by 28 paise to close at 96.53 against the U.S. dollar on Wednesday (July 22, 2026).

“State-owned banks were seen selling dollars — widely viewed as intervention on behalf of the RBI — around the 96.50 level, preventing a steeper depreciation but the closure remained lower for the rupee on Wednesday [July 22, 2026]. Rupee remains near its all-time closing low and if oil prices keep rising we may see it crossing this level, too,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

The U.S. military announced on Wednesday (July 22, 2026), that it was conducting a 12th night of strikes against Iran as both sides increasingly targeted civilian infrastructure.

President Donald Trump warned earlier on Wednesday (July 22, 2026), that the U.S. would destroy one bridge or power plant each time Iran shoots at a ship in the strait.

“The rupee is expected to move in the range of 96.50-96.65 in Thursday’s session, with risk tilted to the downside, although support from the RBI is likely to limit the losses. Key support would be at 96.10-95.80,” Aamir Makda, Commodity and Currency Analyst, Technical Research, Choice Broking, said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.14% at 100.97.

Brent crude, the global oil benchmark, was trading 2.26% higher at $96.20 per barrel in futures trade.

Forex traders said crude oil prices remain elevated amid concerns over the security of oil shipments through the Red Sea and Strait of Hormuz.

On the domestic equity market front, Sensex extended losses on Thursday (July 23, 2026), declining 230.95 points to 76,521.02 in early trade, while Nifty was down 57.15 points to 23,937.

Foreign Institutional Investors offloaded equities worth ₹819.20 crore on a net basis on Wednesday (July 22, 2026), according to exchange data.

The rupee rose 14 paise to settle at 96.28 (provisional) against the U.S. dollar on Friday (July 17, 2026), on possible intervention from the Reserve Bank of India after four consecutive sessions of decline.

Elevated tensions in West Asia, which pushed up global oil prices, maintained pressure on the local unit, forex traders said.

In the interbank foreign exchange market, the rupee opened at 96.35 against the greenback and traded in a narrow range of 96.27-96.41. Eventually it settled at 96.28 (provisional), up 14 paise from its previous close.

The rupee depreciated for the fourth straight day on Thursday (July 16, 2026), shedding 17 paise to settle at 96.42 against the U.S. dollar.

The U.S. expanded its airstrike campaign against Iran early on Friday (July 17, 2026), by increasingly hitting bridges, part of President Donald Trump’s threats to start striking infrastructure to pressure Tehran to ease its chokehold on the Strait of Hormuz. Iran launched new missile attacks against U.S.-allied nations in West Asia and warned that its attacks would escalate.

“The rupee was broadly steady on Friday (July 17, 2026), after a likely Reserve Bank of India (RBI) intervention halted its four-day decline,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP.

“With no major domestic triggers, the currency continued to consolidate after recent weakness. However, the broader bias for the rupee remains weak as elevated crude oil prices and cautious foreign fund flows continue to weigh on sentiment.

“Market participants will closely monitor global developments, crude oil movement, and FII activity for the next directional move,” Jateen Trivedi, VP Research Analyst—Commodity and Currency, LKP Securities, said.

Technically, the rupee is expected to trade in the 96.00-96.55 range, with the overall trend continuing to favour weakness, Mr. Trivedi said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading marginally down by 0.01% at 100.75.

Brent crude, the global oil benchmark, was trading 1.60% higher at $85.58 per barrel in futures trade.

On the domestic equity market front, Sensex jumped 964.58 points to settle at 78,151.45, while Nifty surged 261.55 points to 24,334.30.

Foreign Institutional Investors offloaded equities worth ₹4,205.56 crore on a net basis on Thursday (July 16, 2026), according to exchange data.

The rupee gained 14 paise to 96.28 against the U.S. dollar in early trade on Friday (July 17, 2026), buoyed by positive sentiments at the domestic equity markets.

However, heavy Foreign Instituional Investor outflows and higher global crude oil prices amid heightened tensions in West Asia prevented further gains in the local unit, forex traders said.

At the interbank foreign exchange, the rupee opened at 96.35 against the greenback before rising further to 96.28, up 14 paise from its previous close.

The rupee depreciated for the fourth straight day on Thursday (July 16, 2026), shedding 17 paise to settle at 96.42 against the U.S. dollar.

The U.S. expanded its airstrike campaign against Iran early on Friday (July 17, 2026), by increasingly hitting bridges, part of President Donald Trump’s threats to start striking infrastructure to pressure Tehran to ease its chokehold on the Strait of Hormuz. Iran launched new missile attacks against U.S.-allied nations in West Asia and warned that its attacks would escalate.

“Continued geopolitical uncertainties in West Asia sustained demand for safe-haven assets and kept investors cautious towards emerging-market currencies, including the rupee. Rupee is expected to remain in the range of 96.00-96.50 for the day with a downside bias as dollar index remains up and oil prices remain near $85 per barrel,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading marginally up by 0.02% at 100.78.

Brent crude, the global oil benchmark, was trading 0.39% higher at $84.83 per barrel in futures trade.

On the domestic equity market front, Sensex jumped 480.95 points to 77,656.56 in early trade on Friday (July 17, 2026), while the Nifty was up 125.05 points to 24,201.

Foreign Institutional Investors offloaded equities worth ₹4,205.56 crore on a net basis on Thursday (July 16, 2026), according to exchange data.

The rupee witnessed range-bound trade in the morning session on Friday (January 2, 2026), appreciating by 6 paise to 89.92 against the US dollar as thin liquidity conditions accentuated everyday demand-supply imbalances, keeping the rupee tilted toward weakness.

Forex traders said the USD/INR pair is expected to trade in a narrow range as the 90 level is being protected by the Reserve Bank of India.

Moreover, the support from positive domestic equities was offset by sustained foreign fund outflows.

At the interbank foreign exchange market, the rupee opened at 89.95 against the U.S. dollar, then gained some ground and touched 89.92, rising by six paise from its previous close.

On Thursday, the rupee depreciated 10 paise to close at 89.98 against the U.S. dollar.

“Unless RBI comes and sells dollars heavily, the movement is going to be in small ranges as seen in the last three sessions. The pair is seen in a holding pattern between 89.80 and 90, considering the narrow range,” said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP.

Bhansali further noted that corporate demand, FPI demand, and government demand have been the salient features of the rupee over the past year, during which it fell by more than 5% and became the worst-performing Asian currency, though partly protected by the RBI.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading marginally down by 0.15% at 98.17.

Brent crude, the global oil benchmark, was trading 0.38 per cent higher at $61.08 per barrel in futures trade.

“With early-year liquidity still thin and domestic fundamentals offering a mixed but stable backdrop, the rupee appears set to remain range-bound in the near term. As long as USD/INR stays below the 90 handle, the balance of risks tilts mildly in favour of the rupee,” CR Forex Advisors MD Amit Pabari said, adding that against this backdrop, USD/INR is expected to trade in a 89.30–90.20 range.

On the domestic equity market front, the 30-share benchmark index Sensex climbed 158.19 points to 85,346.79 in early trade, while the Nifty was up 55.8 points to 26,202.35.

Foreign institutional investors offloaded equities worth Rs 3,268.60 crore on Thursday, according to exchange data.

On the domestic macroeconomic front, gross GST collections rose 6.1% to over ₹1.74 lakh crore in December 2025, on slow growth in revenues from domestic sales following the sweeping tax cuts, according to government data released on Thursday (January 1, 2026).

Gross Goods and Services Tax (GST) revenue in December 2024 was over ₹1.64 lakh crore.

The rupee rose 3 paise to settle at 89.65 (provisional) against the U.S. dollar on Tuesday (December 23, 2025) on the back of a weaker greenback. However, a rise in global crude oil prices, coupled with foreign capital outflows, prevented sharper gains in the local unit, according to forex traders.

At the interbank foreign exchange, the rupee opened at 89.67 and traded in the range of 89.59-89.85 before settling at 89.65 (provisional) against the greenback, up 3 paise from its previous close.

The rupee on Monday (December 23, 2025) pared initial gains to settle slightly down by 1 paisa at 89.68 against the U.S. dollar. Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan, said, “The rupee gained on Tuesday (December 23), on a weak U.S. dollar index.

“However, a surge in crude oil prices capped sharp gains. We expect the rupee to trade with a positive bias on overall weakness in the U.S. dollar and a bounce back in the domestic equities,” Mr. Choudhary said Adding that the delay in the trade deal between India and the U.S. is expected to weigh on the rupee at higher levels.

“Investors may watch out for Q3 GDP data from the U.S. on Tuesday (December 23). USD-INR spot price is expected to trade in a range of ₹89.30-89.90,” he added. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.34% lower at 97.95.

Brent crude, the global oil benchmark, was trading 0.18% higher at $62.18 per barrel in futures trade. On the domestic equity market front, Sensex declined 42.64 points to settle at 85,524.84, while the Nifty was marginally up by 4.75 points to 26,177.15. Foreign institutional investors offloaded equities worth ₹457.34 crore on Monday (December 23), according to exchange data.