MUMBAI, MAY 6 (PTI): The rupee appreciated 61 paise to close at 94.57 (provisional) against the US dollar on Wednesday, as Brent crude prices retreated from elevated levels towards USD 100 per barrel after US President Donald Trump hinted at a possible deal with Iran.
Forex traders said that with the Indian rupee facing severe pressure, the Reserve Bank of India (RBI) is also actively pursuing a “non-direct” strategy to support the currency. Moreover, market sentiment was boosted after Trump paused “Project Freedom,” a US operation to escort ships through the Strait of Hormuz. At the interbank foreign exchange market, the rupee opened at 95 against the US dollar, then lost ground and touched an intraday low of 95.18. The rupee finally settled at 94.57 (provisional), registering a rise of 61 paise over its previous close.
On Tuesday, the rupee settled at 95.18 against the US dollar, after witnessing an all-time intraday low of 95.44.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 97.79, down 0.66 per cent. Brent crude, the global oil benchmark, was trading lower by 8.25 per cent at USD 100.81 per barrel in futures trade. On the domestic equity market front, Sensex jumped 940.73 points to settle at 77,958.52, while the Nifty surged 298.15 points to 24,330.95.
Thursday, May 7, 2026