Rupee Hits Two-Month High

2026-09-07 03:54 By Mariene Camarillo 1 min. read

The Indian rupee rose to around 94.4 per dollar, reaching more than two-month highs as persistent Reserve Bank of India intervention and expectations of continued dollar selling supported the currency.

The rupee gained 0.9% last week, with the RBI's sustained presence helping insulate it from negative global cues.

Traders stated that the central bank's ability to draw on its larger foreign exchange reserves following a surge in foreign-currency inflows has strengthened its capacity to support the currency and contain volatility.

Meanwhile, Brent crude surged 7.8% last week to a six-week high of around $97 a barrel after escalating US-Iran tensions raised concerns over prolonged supply disruptions, while stronger-than-expected US jobs data increased the likelihood of a Fed rate hike at its Sept. 15-16 meeting.

Attention now turns to US August inflation data due Friday, which could influence expectations for the Fed's policy decision.



News Stream
Rupee Hits Two-Month High
The Indian rupee rose to around 94.4 per dollar, reaching more than two-month highs as persistent Reserve Bank of India intervention and expectations of continued dollar selling supported the currency. The rupee gained 0.9% last week, with the RBI's sustained presence helping insulate it from negative global cues. Traders stated that the central bank's ability to draw on its larger foreign exchange reserves following a surge in foreign-currency inflows has strengthened its capacity to support the currency and contain volatility. Meanwhile, Brent crude surged 7.8% last week to a six-week high of around $97 a barrel after escalating US-Iran tensions raised concerns over prolonged supply disruptions, while stronger-than-expected US jobs data increased the likelihood of a Fed rate hike at its Sept. 15-16 meeting. Attention now turns to US August inflation data due Friday, which could influence expectations for the Fed's policy decision.
2026-09-07
Indian Rupee Hits 8-week High
The Indian Rupee touched 94.83 against the USD, the highest since July 2026. Over the past 4 weeks, US Dollar Indian Rupee lost 0.51%, and in the last 12 months, it increased 7.78%.
2026-09-01
Rupee Holds Near Two-Month High
The Indian rupee steadied around 94.4 per dollar, hovering near more than two-month highs as strong dollar inflows and RBI intervention continued to support the currency. Inflows mobilised through the central bank's one-off measures topped $136 billion, far exceeding market expectations and strengthening the RBI's ability to support the rupee. Broad-based dollar weakness, led by gains in the Japanese yen, also provided support as markets increased bets on a Bank of Japan rate hike. However, rising oil prices remained a key headwind, with Brent crude climbing above $96 a barrel on renewed US-Iran hostilities. Higher oil prices have pushed up US Treasury yields and boosted expectations of a Fed rate hike this month, limiting the rupee’s upside. The currency has gained more than 1% this week, ranking among Asia’s best performers, though elevated crude prices could limit further gains.
2026-09-01