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Indian rupee strengthens against dollar on Thursday
May-07-2026

Indian rupee strengthened against the U.S. dollar on Thursday following decline in global energy prices. The Brent crude oil prices dropped to trade near $98 a barrel after US President Donald Trump indicated a possible peace deal between United States and Iran. Sentiments also remained optimistic after Commerce ministry in its latest data showed that India’s goods and services exports rose to an all-time high of $863.11 billion in the financial year 2025-26 (FY26), up from $825.26 billion in the previous year, registering a growth of 4.59 per cent, despite uncertainties triggered by geopolitical tensions. On the merchandise front, exports grew modestly from $437.70 billion in FY25 to $441.78 billion in FY26, a growth of 0.93 per cent. On the global front, the British pound has strengthened against the U.S. dollar on Thursday, to trade above $1.36, as the US dollar’s safe-haven demand eased amid hopes of US-Iran agreement to end the conflict in West Asia.

Finally, the rupee ended at 94.29 (Provisional), strengthened by 20 paise from its previous close of 94.49 on Wednesday. The currency touched a high and low of 94.90 and 94.08 respectively.

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