- The rupee gained 15 paise to settle at 95.35 (provisional) against the dollar on July 31, 2026, helped by foreign capital inflows and support from the Reserve Bank of India.
- The rupee opened at 95.40 and traded in the range of 95.25-95.46 during the interbank session.
- Higher global crude oil prices, a stronger greenback and elevated tensions in West Asia capped sharper gains in the rupee, according to forex traders.
- The rupee closed nearly flat as pressure from sustained volatility in oil prices and corporate dollar demand was blunted by likely central bank intervention.
- On the previous session, the rupee surged 26 paise to close at 95.50, rising for the fifth straight session.
- V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments, said the rupee was helped by sustained Reserve Bank of India (RBI) dollar selling and improved foreign portfolio investor (FPI) inflows, with FPIs buying ₹7,360 crore in equities over three days.
- Foreign Institutional Investors purchased equities worth ₹3,623.51 crore on a net basis on Thursday, according to exchange data.
- Anuj Choudhary of Mirae Asset ShareKhan expected the rupee to trade with a slight positive bias, forecasting USD-INR spot in a range of ₹95 to ₹95.60.
- The dollar index was up 0.28% at 100.14, while Brent crude futures gained 0.42% to $89.40 per barrel.
- The U.S. dollar/Indian rupee (USDINR) trading range for the day was 95.72-96.08.
The Indian rupee gained 15 paise to settle at 95.35 against the U.S. dollar on July 31, 2026, bolstered by foreign capital inflows and intervention from the Reserve Bank of India. The rupee opened at 95.40 and traded within a range of 95.25-95.46 during the session.123
Despite the gains, higher global crude oil prices and a stronger dollar limited the rupee's upward movement. Brent crude futures were up 0.42% at $89.40 per barrel, while the dollar index rose 0.28% to 100.14.41112
V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments Ltd, stated, “Rupee has been strengthening on sustained RBI dollar selling this week. The other factor contributing to the rupee's stability and strength is the FPI inflows.” He noted that foreign portfolio investors (FPIs) purchased equities worth ₹7,360 crore over the last three days, shifting from selling to buying, which has improved sentiment for the domestic currency.7
Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan, added, “We expect the rupee to trade with a slight positive bias on a soft dollar and dovish Fed.” However, he cautioned that renewed geopolitical tensions, particularly between the U.S. and Iran, could cap significant gains.910
Overall, the dollar's spot price is expected to trade between ₹95 and ₹95.60 in the near term, as the market remains vigilant to external pressures.
“The rupee had surged 26 paise on Thursday to close at 95.50, marking a fifth straight session of gains. Anuj Choudhary of Mirae Asset ShareKhan expects a slight positive bias, pegging USD-INR between ₹95 and ₹95.60, while V.K. Vijayakumar of Geojit Investments cites FPIs' ₹7,360 crore equity buying over three days.”
