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Rupee Edges Up 3 Paise to 95.94 Against US Dollar Amid RBI Intervention Hopes
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News18•29-09-2026, 20:45
Rupee Edges Up 3 Paise to 95.94 Against US Dollar Amid RBI Intervention Hopes
- •The rupee settled marginally higher at 95.94 against the US dollar, up 3 paise from its previous close, just above the psychologically important 96 per dollar level.
- •Gains were attributed to possible RBI intervention and a pull-back in oil prices following hopes of negotiations between the US and Iran.
- •Forex traders noted that US dollar demand from local importers and a stronger greenback capped further gains for the rupee.
- •The rupee opened at 96.03, touched an intra-day low of 96.15, and closed at 95.94 against the American currency.
- •Analysts expect the rupee to trade with a negative bias due to global market risk aversion and elevated crude oil prices, but potential positive outcomes from US-Iran talks could offer support.
Key Questions Answered
The rupee settled 3 paise higher at 95.94 against the US dollar, supported by potential intervention from the Reserve Bank of India and a pullback in oil prices driven by hopes of negotiations between the US and Iran.
During Tuesday's trading session, the Sensex dropped 242.65 points to settle at 72,529.07, while the Nifty declined 64.05 points to finish at 22,716.20.
Government data released on Monday showed that India's industrial output grew by 8 percent in August, up from 7.4 percent in the preceding month, largely driven by strong performance in the manufacturing sector.
