Rupee Near Four-Week High

2026-08-03 04:08 By Mariene Camarillo 1 min. read

The Indian rupee climbed to around 95.1 per dollar, extending last week's gains to a near four-week high as lower oil prices reinforced optimism from the Reserve Bank of India's sustained market intervention.

Brent crude prices fell 4.7% to below $84 a barrel after US President Donald Trump said plans for an attack on Iran had been shelved to allow negotiations on a nuclear deal, easing concerns over India's import bill and inflation outlook.

The rupee rallied 1.2% last week, its strongest weekly gain since March, as the RBI's near-daily dollar sales eased fears of a slide beyond 97 per dollar.

Additional support came after RBI data showed measures to attract capital inflows had brought in about $41 billion, including $36.7 billion through foreign currency non-resident deposits, bolstering the central bank's capacity to defend the rupee.

Meanwhile, the RBI's net foreign exchange forward book narrowed slightly to $103.3 billion in June, reflecting lower near-term dollar liabilities.



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Rupee Near Four-Week High
The Indian rupee climbed to around 95.1 per dollar, extending last week's gains to a near four-week high as lower oil prices reinforced optimism from the Reserve Bank of India's sustained market intervention. Brent crude prices fell 4.7% to below $84 a barrel after US President Donald Trump said plans for an attack on Iran had been shelved to allow negotiations on a nuclear deal, easing concerns over India's import bill and inflation outlook. The rupee rallied 1.2% last week, its strongest weekly gain since March, as the RBI's near-daily dollar sales eased fears of a slide beyond 97 per dollar. Additional support came after RBI data showed measures to attract capital inflows had brought in about $41 billion, including $36.7 billion through foreign currency non-resident deposits, bolstering the central bank's capacity to defend the rupee. Meanwhile, the RBI's net foreign exchange forward book narrowed slightly to $103.3 billion in June, reflecting lower near-term dollar liabilities.
2026-08-03
Indian Rupee Rises to Over 3-Week High
The Indian rupee rose to around 95.38 per dollar, extending gains for a fifth consecutive session to a three-week high as the greenback weakened and crude oil prices continued to retreat. Pressure on India's import bill eased after the US dollar posted its biggest one-day decline in three months, while Brent crude futures slipped about 1% to around $88 per barrel amid expectations of a Saudi Arabia-led maritime coalition to strengthen security cooperation in the Red Sea. The currency also remained supported by persistent intervention from the Reserve Bank of India, with traders pointing to continued dollar sales after the central bank intervened aggressively last Friday. Still, market participants cautioned that further appreciation could remain limited if oil prices rebound amid ongoing tensions between the US and Iran.
2026-07-31
Indian Rupee Extends Gains
The Indian rupee hovered around 95.67 per dollar, extending gains for a fourth straight session to a near three-week high, as sustained intervention by the Reserve Bank of India continued to support the currency. The central bank has reportedly sold dollars on each trading day since Friday, helping the rupee recover more than 1% after it intervened aggressively to prevent the currency from slipping to a record low. Traders stated that the RBI's early presence in the market has helped anchor sentiment and set the tone for the rupee. However, further gains remained constrained after the Federal Reserve left interest rates unchanged despite three dissents in favor of a rate hike, lifting the US 30-year Treasury yield to near its highest level in almost two decades. At the same time, upside risks to oil prices persisted after the US launched fresh strikes on Iran, with Brent crude surging nearly 8% on Wednesday before paring some gains in Asian trading.
2026-07-27