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Rupee rises 5 paise to 95.53 against US dollar in early trade
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....upee rises 5 paise to 95.53 against US dollar in early trade<BR>FEMA / RBI<BR>Dated:- 29-5-2026<BR>PTI<BR>Mumbai, May 29 (PTI) The rupee rose 5 paise to 95.53 against the US dollar in early trade on Friday, after the US and Iran reached an understanding to extend the ceasefire for another 60 days. Forex traders said the agreement is expected to keep trade flowing through the strategic Strait o....
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....f Hormuz while both countries continue negotiations around Iran’s nuclear program. At the interbank foreign exchange market, the rupee opened at 95.77 against the US dollar, then gained ground and touched 95.53 in early trade, up 5 paise from its previous close. In initial trade the rupee also touched 95.78 against the American currency. On Wednesday, the rupee settled higher by 12 paise....
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.... at 95.58 against the US dollar. Domestic equity and forex markets were closed on Thursday on account of Eid-ul-Azha. US and Iranian negotiators reached a tentative agreement on Thursday to extend the ceasefire in the three-month-old war by 60 days. "For markets, this mattered because it reduced immediate fears of fresh disruption in oil supplies. As a result, crude oil prices stayed r....
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....elatively stable, something that always offers relief to oil-importing countries like India," CR Forex Advisors MD Amit Pabari said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.09, up 0.07 per cent. Brent crude, the global oil benchmark, was trading down 1.12 per cent USD 92.66 per barrel in futures trade. Acc....
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....ording to traders a softer dollar and stable oil prices could provide some near-term support to the rupee. However, the rupee’s biggest challenge right now remains foreign investment flows. Foreign institutional investors (FIIs) have sold nearly USD 24 billion from Indian equity markets since the beginning of 2026. Debt market flows, in comparison, have remained relatively stable with inflo....
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....ws of around USD 1 billion. Foreign institutional investors offloaded equities worth Rs 1,042.70 crore on a net basis on Wednesday, according to exchange data. "The RBI has already been using several tools to stabilise the rupee, including liquidity operations, forex management measures and steps to curb speculative positions. But if pressure on the currency continues, interest rates could....
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.... eventually become the next line of defence," Pabari said, adding that "the upcoming RBI policy meeting between June 3 and June 5 has become extremely important." "As long as global risk sentiment continues improving and crude oil prices remain under control, the rupee could gradually appreciate toward the 94.50–94.80 region in the near term. "Any cautious signal from the RBI could further....
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.... strengthen that recovery by improving investor confidence and attracting flows back into the system," he said. PTI DRR DR DR =============<BR> News - Press release - PIB....