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Indian rupee strengthens against dollar on Tuesday
Jul-28-2026

Indian rupee has strengthened against the US dollar on Tuesday as crude oil prices continued to decline for the second straight session with Brent crude oil prices declining nearly 2% to trade below $87 per barrel. Further, investors were optimistic about diplomatic progress between the United States and Iran to end the conflict in the Middle East. US President Donald Trump has said that the US was having good talks with Iran. Besides, a 7.3% jump in Index of Industrial Production (IIP) for June 2026 also supported the rupee. The Quick Estimate of IIP stood at 123.1 in June 2026 against 114.7 in June 2025. Besides, IIP growth for April-June period of 2026 stood at 5.8%, up from 3.4% in April-June period of 2025. On the global front, the British pound has weakened against the US dollar on Tuesday amid persistent dollar strength ahead of US Federal Reserve’s interest rate decision.

Finally, the rupee ended at 95.82 (Provisional), strengthened by 17 paise from its previous close of 95.99 on Monday. The currency touched a high and low of 95.89 and 95.63 respectively.

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