The Indian rupee opened higher on July 27, gaining 43 paise to trade at ₹96.14 per US dollar, compared to Friday’s close of ₹96.57. The rise came as the United States and Iran halted their exchange of strikes over the weekend.
The pause in hostilities led to a sharp fall in crude oil prices, dropping more than 5%. Investors removed the risk premium that had pushed oil to multi‑month highs, and the dollar index slipped to 101.18. These developments lifted the rupee’s value.
Finrex analysts predict the rupee will open even stronger around ₹96.10 on July 28. Exporters are expected to wait for higher rates before selling dollars, while importers may use the dip to hedge near‑term payments. The Reserve Bank of India is likely to continue supporting the rupee when it weakens.
In Asia, most major currencies strengthened against the dollar. The Thai baht led the gains at +0.31%, followed by the Philippine peso (+0.206%) and Japanese yen (+0.165%). Malaysia’s ringgit, Singapore’s dollar and China’s renminbi also posted modest rises.
The South Korean won was the weakest, falling 0.324%. The Indonesian rupiah slipped 0.15%, and the Taiwan dollar barely changed, slipping a marginal 0.009%.
Overall, the dollar weakened against its major peers at the start of Asian trading after the US paused its bombing campaign in Iran. The drop in oil prices and improved global sentiment boosted investor confidence.