Rupee strengthens by 31 paise against US dollar
Babushahi Bureau
New Delhi, June 17, 2026: The Indian rupee gained 31 paise against the US dollar in early trading on Wednesday, supported by a decline in global crude oil prices and a softer US dollar.
The domestic currency opened at 94.46 in the interbank foreign exchange market and later strengthened to 94.29 against the greenback, recovering significantly from Tuesday's closing level of 94.60.
Market experts attributed the rupee's rise to falling crude oil prices after investors reacted positively to developments surrounding a proposed US-Iran agreement. Brent crude, the international oil benchmark, slipped below the $79-per-barrel mark, easing concerns over energy supply disruptions and reducing pressure on oil-importing economies such as India.
The rupee has now gained around 130 paise over the past three trading sessions, reflecting improved investor sentiment and expectations of stronger foreign capital inflows.
According to forex analysts, the dollar-rupee pair has witnessed a shift in momentum after breaking below key resistance levels. Market participants are closely monitoring the proposed US-Iran peace agreement, expected to be formally signed later this week, which could further influence global currency and commodity markets.
Meanwhile, the US dollar index, which measures the American currency's performance against a basket of major currencies, remained largely flat at 99.52.
On the commodities front, Brent crude futures were trading at $78.67 per barrel, down 0.37 per cent from the previous session.
Indian equity markets also opened in positive territory, with the BSE Sensex rising over 270 points to 77,080.09 and the NSE Nifty advancing 55 points to 24,044.50 in early trade.
However, foreign institutional investors (FIIs) remained net sellers on Tuesday, offloading equities worth ₹749.18 crore, according to exchange data.
Global investors are now focused on upcoming diplomatic developments, including the expected signing of the US-Iran peace framework in Switzerland, a move that could have a significant impact on international markets.