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Indian rupee strengthens against dollar on Friday
May-29-2026

Indian rupee strengthened against the U.S. dollar on Friday as brent crude oil prices retreated to trade near $92 per barrel amid hopes of an extension in US-Iran ceasefire, and possible easing of shipping restrictions through the Strait of Hormuz. Further, sentiments also remained optimistic after India and South Korea agreed to address the widening trade deficit within the broader framework of their bilateral trade pact. The move is likely to pave the way for a more balanced trade relationship between the two countries. The issue figured during the 12th round of negotiations on upgrading the existing Comprehensive Economic Partnership Agreement (CEPA), which was implemented in January 2010. On the global front, the British pound has weakened against the U.S. dollar on Friday as defeat of UK Prime Minister Keir Starmer’s Labour Party in local elections raised political uncertainty. 

Finally, the rupee ended at 95.00 (Provisional), strengthened by 58 paise from its previous close of 95.58 on Wednesday. The currency touched a high and low of 95.78 and 94.97 respectively.

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