The Indian rupee opened higher on Wednesday, August 5, trading 46 paise above its previous close. It stood at ₹94.92 per US dollar, breaking the 95‑level that had been a key resistance. The rise was helped by easing crude oil prices.
Jateen Trivedi, VP Research Analyst at LKP Securities, said the rupee’s direction will continue to be influenced by oil prices, the US Dollar Index, foreign institutional investor flows, and global geopolitical events.
Market participants are now turning their attention to the Reserve Bank of India’s upcoming policy meeting. The central bank’s forward guidance and tone are expected to provide important clues about the rupee’s future path.
From a technical standpoint, analysts expect the rupee to trade between ₹95.00 and ₹95.75 in the short term, according to Trivedi.
Across Asia, most currencies moved higher against the dollar. The South Korean won led the gains with 0.34%, followed by the Philippine peso (0.31%), Taiwan dollar (0.21%), Malaysian ringgit (0.17%) and Japanese yen (0.13%). The Chinese renminbi also edged up by 0.09%, while the Singapore dollar slipped slightly by 0.02%.
On the downside, the Indonesian rupiah slipped 0.17%, making it the weakest Asian currency that day. The Thai baht remained almost flat, down only 0.003% from its prior close.
The US dollar stayed near a six‑week low, buoyed by renewed optimism over Middle East developments. The dollar index, which measures the dollar against six major currencies, held steady at 99.85 after touching a low on Monday.
Overall, the rupee’s performance reflects a combination of global commodity pricing and domestic policy expectations, with traders keen to see how the RBI’s decisions shape the currency in the coming days.