Rupee Jumps 47 Paise to 94.26 Against U.S. Dollar in Early Trade
Foreign-currency deposits under a special Reserve Bank of India programme brought in $127.226 billion, helping the rupee offset higher crude and global yields.
- The rupee appreciated 47 paise to 94.26 against the USD in early trade on Thursday, supported by higher than expected Foreign Currency Non-Resident deposits mobilization.
- India mobilized a record $127.23 billion through the special FCNR program. The Reserve Bank said these deposits bolstered foreign-exchange liquidity.
- Forex traders noted the movement reflects strong inflows and aggressive RBI intervention, while Sensex climbed 221.17 points and Nifty rose 59.55 points in early trade.
- IFA Global noted this gives RBI capacity to defend the currency, though banking system liquidity surplus will likely reach around 10 lakh crore, creating a sterilization challenge.
- Brent crude traded lower by 0.16% at $95.48 per barrel amid escalating US-Iran tensions, as fears of disruption to oil flows through the Strait of Hormuz influence global markets.
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The Indian rupee has strengthened against the dollar, reaching its highest level in more than two months. The rupee's strength is being attributed to the significant inflow of foreign reserves through the RBI's forex scheme, which raised $136.37 billion through this scheme as of August 31st.
Rupee gains 47 paise as record FCNR inflows boost forex liquidity
On Thursday morning, the Indian rupee saw a notable rise, fueled by an influx of foreign-currency deposits that enhanced the foreign-exchange liquidity of the country. This robust support helped mitigate global economic pressures. Additionally, interventions from the Reserve Bank of India played a crucial role in the rupee's ascent, as domestic equities began the day on a positive note, signaling encouraging market sentiments.
Rupee appreciates by 49 paise against US dollar – The Indian Awaaz
Last Updated on September 3, 2026 11:58 pm by INDIAN AWAAZ In the forex market today, the rupee appreciated by 49 paise to close at 94 rupees and 49 paise against the US dollar. Earlier, the rupee surged to a two-month high during the intraday trade against the US dollar and logged its biggest single-day gain since June. The substantial jump was attributable to the Reserve Bank of India’s foreign currency non-resident bank (FCNR-B) inflows, whic…
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