INR vs USD Rate, July 1, 2026: Rupee falls 67 paise to close at 95.23 against US dollar

Mumbai: The rupee depreciated 67 paise to close at 95.23 (provisional) against the US dollar on Wednesday, as a strengthening dollar index weighed on emerging market currencies.

Forex traders said the USD/INR pair witnessed significant pressure due to the strengthening of the American currency in the overseas market, persistent capital outflows, and broader Asian currency weakness.

Moreover, market sentiment turned highly cautious, following the breach of the psychological level of 95.00.

At the interbank foreign exchange market, the rupee opened at 94.67 against the American currency and traded in a range of 94.60-95.29 during the session.

The rupee finally closed at 95.23 (provisional), registering a decline of 67 paise from its previous close.

On Tuesday, the rupee depreciated by 5 paise to close at 94.56 against the US dollar.

“The Indian rupee declined for a third consecutive session, pressured by short covering and a strengthening US dollar against major currencies. Additional weakness across Asian currencies further weighed on the rupee,” Dilip Parmar, Research Analyst, HDFC Securities, said.

Parmar further added that market sentiment has turned negative following the breach of the 95 level. “In the near term, spot USD-INR is expected to face resistance at 95.80, while support is seen at 94.60.” Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 101.42, up 0.23 per cent.

Brent crude, the global oil benchmark, was trading lower by 0.88 per cent at USD 72.31 per barrel in futures trade.

On the domestic equity market front, Sensex jumped 443.97 points to settle at 76,922.64, while the Nifty climbed 140.10 points to 24,005.85.

Foreign institutional investors sold equities worth Rs 2,556.75 crore on a net basis on Tuesday, according to exchange data.

Meanwhile, India’s manufacturing sector activity growth eased in June, as new business orders and international sales increased at softer rates, resulting in slower expansions in buying levels, employment and output.

The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index fell from 55.0 in May to 54.2 in June, pointing to the second-weakest improvement in the health of the sector since mid-2022.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)