From The Economic Times · Reuters · · 1m 10s
Indian Rupee Strengthens Past 94/$ as Oil Slides
Indian rupee hits 93.9050 after oil drop and foreign inflows.
In brief
Indian rupee hits 93.9050 after oil drop and foreign inflows. The Indian rupee strengthened past 94 per dollar due to falling oil prices and increased foreign investment following US election results. Originally reported by The Economic Times.
Rupee Strengthens Past 94/$
The Indian rupee strengthened past 94 per dollar on Friday, regaining appeal among emerging-market currencies after spending much of the year in the doldrums.
AI Trade Unwinds
Global investors have reduced exposure to AI-heavy markets, helping India's equity market and rupee recover from previous weakness.
Oil Prices Decline
Brent crude dropped nearly 20% this week, providing relief to the rupee as India imports nearly 90% of its oil needs.
Foreign Inflows Return
Foreign investors bought nearly $3 billion in Indian equities this week, including $1.6 billion on Thursday alone.
Rupee at 93.9050
The rupee ended at 93.9050 and is down just 4.5% in 2026 after hitting an all-time low of 96.96 in May.
Analyst Predictions
Analysts predict the rupee may reach 93.70 next, with further appreciation possible to 93.50 if foreign inflows continue.
What it means
The Indian rupee strengthened past 94 per dollar due to falling oil prices and increased foreign investment following US election results.
