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.
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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.
Key Facts
- The rupee gained 39 paise against the US dollar.Source not recorded
- The currency reached a level of 94.89 in early trade on Wednesday.Source not recorded
- The rupee closed at 95.28 against the US dollar on Tuesday.Source not recorded
- The dollar index was trading at 99.80, down 0.06 percent.Source not recorded
- Falling crude oil prices supported the rupee's gain.Source not recorded
The Timeline2
Every article on this story, in the order it was filed. We do not rank the outlets.
5 Aug
CoverageWhat we read
Language reach
Dailies carrying this story, against the dailies we read in each language.
- English2 of 9
Regional reach
Where this story reached, and where it did not. National mastheads and wire agencies circulate everywhere and are counted separately, not drawn on the map.
- None carried this
- No source registered
- 1 outlet
- 2 or more
- NorthNot carried0 of 4
- WestNot carried0 of 5
- Central IndiaNot carried0 of 1
- EastNot carried0 of 5
- North-eastNot carried0 of 2
- SouthCarried1 of 10
1 of the 26 states we read have 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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