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Rupee rises 21 paise to close at 95.22 against US dollar
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....upee rises 21 paise to close at 95.22 against US dollar<BR>FEMA / RBI<BR>Dated:- 31-8-2026<BR>PTI<BR>Mumbai, Aug 31 (PTI) The rupee pared initial losses and settled for the day with gains of 21 paise at 95.22 against the US dollar on Monday, on possible RBI intervention, as rising crude oil prices and geopolitical strain weighed on the local unit. Forex traders said the Reserve Bank of India (....
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....RBI) might have intervened to support the currency at lower levels after market participants raised the probability of a rate hike by the US Federal Reserve in September, pushing US Treasury yields higher and triggering a broad dollar rally. At the interbank foreign exchange, the rupee opened at 95.56 and oscillated between 95.11 and 95.56 during the session. At the end of Monday's trading ses....
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....sion, the rupee was quoted at 95.22, higher by 21 paise from its previous close. On Friday, the rupee rose marginally by 2 paise to settle at 95.43 against the US dollar. "The Indian rupee staged a stellar two-day comeback to close at its strongest level since August 5, successfully overcoming an early dip triggered by Friday’s surge in the dollar index following hawkish remarks from Fed....
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.... chair... "This resilient recovery was heavily anchored by timely, suspected intervention from the Reserve Bank of India alongside a surge in dollar flows linked to the MSCI rebalancing and the FCNR (B) schemes," said Dilip Parmar - Senior Research Analyst, HDFC Securities. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at....
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.... 99.52, lower by 0.18 per cent. Brent crude, the global oil benchmark, was trading higher by 3.70 per cent at USD 91.36 per barrel in futures trade, driven by a renewed Middle East supply-risk premium after the US strike on Iran's Larak Island and subsequent Iranian retaliation, raising fresh concerns about oil flows through the Strait of Hormuz. Forex traders said the RBI is intervening i....
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....n the market to stem any significant depreciation in the rupee. Moreover, better-than-expected flows under the FCNR(B) scheme also boosted investor sentiments. The Reserve Bank of India's special USD-INR forex swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings (OFCB) and External Commercial Borrowings (ECB) has mobilised foreign exchange inflows of USD 73 billion as of Au....
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....gust 21, 2026, reflecting strong backing from Non-Resident Indians (NRIs). August 31 is the last day for mobilisation of deposits under RBIs FCNR (B) scheme. On the domestic equities market front, Sensex declined 307.24 points to settle at 76,957.27, while the Nifty dropped 95.25 points to 24,080.40. Foreign institutional investors offloaded equities worth Rs 7,985.88 crore on a net basis ....
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....on Monday, according to exchange data. On the macroeconomic front, India's economy grew at a faster-than-expected 7.8 per cent in the April-June quarter, showing resilience in the face of concerns that the war in Iran and resulting global economic uncertainty could weigh on growth. Gross domestic product (GDP) growth in the first quarter of the 2026-27 fiscal year slowed from a barnstormin....
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....g 8.6 per cent in the previous quarter, but remained well above expectations when the conflict erupted and disrupted energy markets. The central government's fiscal deficit for 2026-27 stood at 26.8 per cent of the full-year target at the end of July, according to data released by the Controller General of Accounts (CGA) on Monday. The deficit was at 29.9 per cent of Budget Estimates (BE) ....
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....of 2025-26 for the first four months of the previous financial year. PTI DRR HVA =============<BR> News - Press release - PIB....