28 july 2026 Punjab Khabarnama Bureau : The Indian rupee appreciated 35 paise to 95.64 against the US dollar in early trade on Tuesday, supported by positive domestic market sentiment and easing pressure on the US currency.
The gains came as investors monitored global financial markets, crude oil prices and foreign fund movements, all of which continue to influence the rupee’s performance.
Domestic Market Sentiment Supports Rupee
A firm opening in domestic equity markets and improved investor confidence helped strengthen the Indian currency during early trading.
Market participants said positive sentiment in local financial markets contributed to increased demand for the rupee.
Global Factors Remain in Focus
Despite the early gains, traders continued to keep a close watch on global developments, including the movement of the US dollar, crude oil prices and geopolitical tensions.
Changes in these factors could influence the rupee’s direction during the remainder of the trading session.
Crude Oil Prices Still a Key Driver
As one of the world’s largest crude oil importers, India’s currency remains sensitive to fluctuations in global oil prices.
Higher crude prices can increase the country’s import bill and put pressure on the rupee, while softer oil prices generally support the domestic currency.
Foreign Investment Activity Important
Foreign institutional investment flows also play a crucial role in determining the rupee’s movement.
Continued inflows into Indian equities and debt markets can strengthen the currency, while sustained outflows may lead to depreciation.
Outlook for the Day
Currency analysts expect the rupee to remain influenced by domestic equity performance, global risk sentiment, crude oil movements and the strength of the US dollar in international markets.