Archive · 3 Aug 2026
Rupee Gains Six Days Straight Amid Oil Drop and Trump’s Iran Decision
The Indian rupee got stronger against the US dollar on Monday, its sixth day in a row of gains.
This happened because oil prices dropped a lot and the US decided not to attack Iran, which made investors feel safer.
Indian banks and foreign investors also bought more stocks, helping the rupee.
The Reserve Bank of India also stepped in to support the currency.
Experts think the rupee will stay between 95.00 and 95.50 for a while.
Rupee rose to 95.31 against the US dollar, its sixth consecutive gain.
The rise was helped by a sharp drop in global crude oil prices and a softer dollar after President Donald Trump postponed potential strikes on Iran.
Foreign institutional investors bought Rs 277.48 crore of equities, and India’s forex reserves climbed to USD 682.354 billion.
The rupee’s rebound follows a six‑day trend supported by FII inflows and easing tensions in West Asia.
Analysts project the rupee to trade in a range of 95.00–95.50 in the near term.
- Who
- Indian rupee, US President Donald Trump, Reserve Bank of India, Foreign Institutional Investors
- What
- Rupee strengthened, oil prices fell, US diplomatic decision postponed Iran strikes
- When
- Monday, August 3, 2024
- Where
- India and global markets
- Why
- Lower oil prices, softer dollar, FII inflows, and easing West Asia tensions
- Rupee exchange rate
- 95.31 per US dollar
- Date
- August 3, 2024
- Oil price drop
- Brent fell 5% to $83.48
- FII inflows
- Rs 277.48 crore
- Forex reserves
- USD 682.354 billion
