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The rupee appreciated 53 paise to adjacent astatine 95.05 (provisional) against the U.S. dollar successful aboriginal commercialized connected Friday (May 29, 2026), arsenic renewed optimism implicit the bid woody betwixt the U.S. and Iran boosted marketplace sentiments.
Forex traders said the USD/INR brace appreciated connected an overnight diminution crude lipid prices and a autumn successful the U.S. dollar, aft the U.S. and Iran reached an knowing to widen the ceasefire for different 60 days.
On Thursday (May 28, 2026), the U.S. and Iranian negotiators reached a tentative statement to widen the ceasefire by 60 days and commencement a caller circular of talks connected Iran's atomic programme.
At the interbank overseas speech market, the rupee opened astatine 95.77 against the U.S. dollar, past touched an intraday precocious of 94.97 and a debased of 95.78 during the day.
At the extremity of Friday (May 29, 2026)'s trading session, the rupee was quoted astatine 95.05 (provisional), up 53 paise from its erstwhile close.
On Wednesday (May 27, 2026), the rupee settled higher by 12 paise astatine 95.58 against the U.S. dollar. Domestic equity and forex markets were closed connected Thursday (May 28, 2026) connected relationship of Eid-ul-Azha.
"We expect the rupee to commercialized with a flimsy affirmative bias connected renewed optimism implicit the bid woody betwixt the U.S. and Iran, pending support from Donald Trump and the Iran ultimate leader,” said Anuj Choudhary, Research Analyst astatine Mirae Asset ShareKhan.
"Softening crude lipid prices and easing of the dollar whitethorn besides enactment the rupee. However, immoderate caller escalations betwixt the U.S. and Iran whitethorn pressurise the rupee astatine higher levels. USD-INR spot terms is expected to commercialized successful a scope of 94.70. to 95.60," helium said.
Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was trading astatine 99.13, up 0.11%. Brent crude, the planetary lipid benchmark, was trading down 1.81% astatine $92.01 per tube successful futures trade.
Forex traders said attraction has present shifted toward the upcoming RBI Monetary Policy Committee (MPC) gathering scheduled for June 3-5.
According to experts, the RBI mightiness opt for a complaint hike oregon for a presumption quo decision. The larger question, however, is whether RBI whitethorn take to prioritise currency stableness alongside ostentation management.
On the home equity marketplace front, Sensex tanked 1,092.06 points to settee astatine 74,775.74, portion the Nifty slumped 359.40 points to 23,547.75.
Foreign organization investors offloaded equities worthy ₹1,042.70 crore connected a nett ground connected Wednesday (May 27, 2026), according to speech data.
