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fxJul 8, 2026, 5:40 AM

Indian Rupee Gains Against Dollar Despite Rising Oil Prices

The Indian Rupee edged higher against the US Dollar on Wednesday, with USD/INR slipping to near 95.00, even as oil prices rose following US attacks on Iran.

USDINR

The Indian Rupee (INR) strengthened against the US Dollar (USD) in Wednesday's opening session, pushing the USD/INR pair down to approximately 95.00. This move came despite renewed geopolitical tensions and a spike in oil prices triggered by US military strikes on Iran.

The rise in crude oil typically pressures the Rupee, as India is a major importer. However, the currency managed to edge higher, suggesting other factors such as dollar weakness or local inflows are supporting the INR.

Source: FXStreet Forex News