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Indian Rupee gains 39 paise against US dollar

The Indian rupee appreciated by 39 paise to reach 94.89 against the US dollar in early trade on Wednesday. The currency's performance was supported by a decline in global crude oil prices and a slight weakening of the dollar index. Market participants are currently monitoring the upcoming Reserve Bank of India monetary policy decision for further direction.

2 paksh

General Post Office and Reserve Bank of India, Kolkata, India
File photo: Vyacheslav Argenberg / CC BY 4.0, via Wikimedia Commons

What Happened

The Indian rupee opened at 94.90 and subsequently reached 94.89 against the US dollar at the interbank foreign exchange market on Wednesday. This movement represents a 39 paise gain from the previous day's closing value of 95.28. The dollar index, which measures the strength of the US currency against a basket of six others, was recorded at 99.80, reflecting a decline of 0.06 percent.

The appreciation of the rupee is attributed to falling crude oil prices, which were influenced by progress in US-Iran talks and a pause in planned strikes. Investors are now focused on the forthcoming monetary policy decision from the Reserve Bank of India to determine future market trends.

Background

The Reserve Bank of India's Monetary Policy Committee is responsible for setting the benchmark interest rate to maintain price stability while keeping in mind the objective of growth.

Standing context, compiled from public reference sources rather than from the coverage above.

SourcesMonetary Policy Committee

Key Facts

  1. The rupee gained 39 paise against the US dollar.
  2. The currency reached a level of 94.89 in early trade on Wednesday.
  3. The rupee closed at 95.28 against the US dollar on Tuesday.
  4. The dollar index was trading at 99.80, down 0.06 percent.
  5. Falling crude oil prices supported the rupee's gain.

The Timeline2

Every article on this story, in the order it was filed. We do not rank the outlets.

  1. 5 Aug

    1. HiThe Hindu
      Rupee jumps 39 paise to 94.89 against U.S. dollar
    2. DHDeccan Herald
      Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision

Where This Is Being CoveredEnglish

Languages

Newsrooms carrying this story, by publication language.

  • English2 outlets

Regional reach

States where a local newsroom is carrying this. National mastheads and wire agencies circulate everywhere and are counted separately, not drawn on the map.

Jammu & Kashmir: No local newsroomLadakh: No local newsroomPunjab: No local newsroomChandigarh: No local newsroomHimachal Pradesh: No local newsroomUttarakhand: No local newsroomHaryana: No local newsroomDelhi NCR: No local newsroomUttar Pradesh: No local newsroomRajasthan: No local newsroomGujarat: No local newsroomDadra & Nagar Haveli and Daman & Diu: No local newsroomMaharashtra: No local newsroomGoa: No local newsroomMadhya Pradesh: No local newsroomChhattisgarh: No local newsroomBihar: No local newsroomJharkhand: No local newsroomWest Bengal: No local newsroomOdisha: No local newsroomSikkim: No local newsroomArunachal Pradesh: No local newsroomAssam: No local newsroomNagaland: No local newsroomMeghalaya: No local newsroomManipur: No local newsroomTripura: No local newsroomMizoram: No local newsroomTelangana: No local newsroomKarnataka: Deccan HeraldAndhra Pradesh: No local newsroomKerala: No local newsroomTamil Nadu: No local newsroomPuducherry: No local newsroomLakshadweep: No local newsroomAndaman & Nicobar: No local newsroom
  • No local newsroom
  • 1 outlet
  • 2 or more

1 state with local coverage. Spread across the country, with no regional concentration. Also carried by 1 national masthead.

About This Analysis

One summary, built from every source. No single newsroom's voice.

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Key facts

Paksh: the sides a story is told from. 2 newsrooms filed on this one, and every filing is listed above.

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