INR Market Update
29 Jun 2026 • 00:31 GMT
The Indian Rupee (INR) has remained relatively stable against the US dollar recently, trading just above its three-month average at around 0.010598. The currency has stayed within a narrow 4.7% range, between about 0.010326 and 0.010813, reflecting cautious market sentiment.
US dollar strength continues to be supported by expectations of a potential interest rate hike by the Federal Reserve, which has kept the greenback near yearly highs. Meanwhile, in India, factors such as rising oil prices due to geopolitical tensions and continued foreign portfolio outflows have pressured the Rupee. The RBI's flexible approach allows some weakening to absorb external shocks without direct intervention.
Looking ahead, the INR’s movement may hinge on global oil prices and the US dollar's ongoing strength. Divergent forecasts from major banks suggest the INR could move towards 96.80 or even drop to around 93 by the end of the year, depending on external economic shifts and India’s policy responses. Overall, the INR remains in a cautious range, with external factors likely to influence its short-term trajectory.
📊 Quick forecast view
🟢 Mild upside
N/A
🌍 Global risk sentiment
🟢 Uptrend