The Indian rupee appreciated by 15 paise to 95.28 against the US dollar in early trade on July 7, 2026, at the interbank foreign exchange market. The domestic currency opened at 95.33 and later touched 95.28, marking a gain from its previous close.
Market Opening and Movement
According to forex traders, the rupee's rise was supported by positive domestic equities and a weak US dollar overseas. The rupee opened at 95.33 and edged higher to 95.28, reflecting improved investor sentiment.
Impact of Global Cues
The US dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.1% at 104.20. A weaker dollar typically benefits emerging market currencies like the rupee.
Meanwhile, benchmark equity indices BSE Sensex and NSE Nifty traded in positive territory, adding to the rupee's momentum. Foreign institutional investors (FIIs) were net buyers in the capital market, purchasing shares worth Rs 850 crore on July 6, as per exchange data.
Previous Session and Outlook
The rupee had closed at 95.43 against the US dollar in the previous session on July 6. The current gain of 15 paise comes amid cautious trading ahead of key economic data releases. Analysts expect the rupee to trade in a range of 95.20 to 95.60 in the near term, with trends in global crude oil prices and central bank policies influencing further movement.
"The rupee is likely to remain range-bound with a slight appreciation bias, supported by capital inflows and a stable domestic economy," said a forex dealer at a public sector bank.
