Rupee Rises 6 Paise to 86.06 Against US Dollar on Softer Greenback and Crude

Mumbai, July 18 – The Indian Rupee (INR) experienced some respite, appreciating by 6 Paise to 86.06 against the US dollar in early trade on Friday. A weaker US dollar and a marginal decline in the global crude oil price contributed to the rupee’s appreciation.  The INR had opened at 85.99 before settling at 86.06, gaining from the previous close of 86.12.

Dollar and Crude Trends Support Rupee

The US dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.29 per cent at 98.45. Meanwhile, Brent crude, the global benchmark, fell 0.14 per cent to $69.42 per barrel in futures trading. Both factors provided relief to the rupee.

Foreign Outflows Cap Gains

Despite supportive global factors, persistent foreign institutional investor (FII) selling continued to weigh on the rupee. FIIs offloaded Indian equities worth ₹3,694.31 crore on a net basis on Thursday, according to exchange data.

Equity Markets in Red

Domestic equity markets opened weak, mirroring global sentiment. The Sensex declined by 185.67 points to 82,073.57 in early trade, while the Nifty dropped 45.4 points to 25,066.05.

India-US Trade Deal in Focus

The rupee’s trajectory also remains tied to ongoing trade discussions between India and the United States. The Ministry of External Affairs confirmed Thursday that negotiations are underway to resolve outstanding issues, a day after the US President stated that both sides are “very close” to signing a trade agreement. US

Outlook

The rupee is expected to remain range-bound in the near term, influenced by global market cues, crude price movements, and foreign capital flows. Updates on the India-US trade pact could also provide direction in the coming sessions.

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