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Indian rupee strengthens against dollar on Wednesday
Jun-24-2026

Indian rupee strengthened against the U.S. dollar on Wednesday amid falling global crude oil prices with Brent crude oil price declining over 2% to trade below $76 per barrel. Further, investors remained optimistic following Reserve Bank of India Governor Sanjay Malhotra’s remarks on internet rate hike. He said that it is premature to discuss tightening given fragile US-Iran truce and the uncertainty it creates for oil prices. Traders overlooked the S&P Global Ratings’ report saying energy stress, sub-par monsoon and slowing global growth will pull down India's GDP growth to 6.6% in the current fiscal. On the global front, the British pound has weakened against the U.S. dollar on Wednesday as growing expectation of interest rate hike by US Federal Reserve supported dollar strength. 

Finally, the rupee ended at 94.55 (Provisional), strengthened by 21 paise from its previous close of 94.76 on Tuesday. The currency touched a high and low of 94.93 and 94.55 respectively.

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