Indian Rupee Strengthens 3 Paise Against Weaker US Dollar
By ThePip Desk
The Indian rupee closed Friday stronger, gaining 3 paise against the US dollar to settle at 95.71, supported by a weaker global greenback.
The Indian rupee registered mild gains against the US dollar on Friday, closing 3 paise stronger. The domestic currency settled at 95.71 provisionally, up from its previous close of 95.74 on Thursday.
Key Market Figures
- Rupee Close: 95.71 (Provisional)
- Previous Close (Thursday): 95.74
- Intraday High: 95.75
- Intraday Low: 95.65
- Strength: 3 paise
The rupee initially opened on a stronger note, primarily driven by a weaker US dollar. Market jitters surrounding substantial US budget deficits contributed to the greenback’s subdued performance.
Underlying Market Dynamics
- Weaker US dollar provided support.
- Concerns over large US budget deficits impacted dollar sentiment.
Despite the initial strength, lingering geopolitical tensions and high crude oil prices tempered investor risk sentiment. Brent crude oil traded above the $93 a barrel mark, reflecting ongoing global concerns.
Factors Tempering Gains
- Brent crude oil prices exceeded $93 a barrel.
- Tensions between the US and Iran showed no signs of easing.
On the global front, the euro also demonstrated strength against the US dollar during Friday’s trading. This move followed encouraging economic data from the Eurozone.
Global Currency Movements
- Eurozone flash composite PMI rose to 52.1 in August 2026.
- This marks an increase from 52 in July, reaching a nine-month high.