empty
 
 

2026.06.1503:47:15UTC+00Rupee Rises to 5-Week High

The Indian rupee appreciated to around 94.7 per US dollar, extending its recovery to a five-week high as easing geopolitical tensions in the Middle East lifted investor sentiment and reduced pressure from elevated energy prices. The announcement of a US-Iran peace agreement and the reopening of the Strait of Hormuz prompted a sharp decline in crude oil prices. Market participants anticipate further rupee gains if oil prices remain stable.

Last week, the rupee came under pressure from strong dollar demand by importers, particularly oil companies. However, optimism surrounding a potential Middle East peace agreement, along with Reserve Bank of India measures aimed at encouraging foreign currency inflows, helped limit losses and provided support to the currency.

Attention now turns to the upcoming US Federal Reserve policy decision. While interest rates are widely expected to be left unchanged, investors will closely scrutinize Chair Kevin Warsh’s remarks and the updated economic and rate projections for signals on the future path of US monetary policy.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In June we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback