The rupee gained 17 paise to settle at 94.58 against the US dollar on Wednesday, supported by lower crude oil prices, a weaker dollar, foreign investor inflows and positive domestic equity markets amid improved global sentiment
Published Date – 4 November 2026, 04:09 PM
Mumbai: The rupee stayed firm for the second consecutive session, settling 17 paise higher at 94.58 (provisional) against the US dollar on Wednesday, supported by easing crude oil prices, a weaker American currency and capital inflows from overseas investors.
A positive trend in domestic equity markets also favoured the local currency, even as the outcome of the US midterm elections improved global sentiment, forex traders said.
In the interbank foreign exchange market, the rupee opened at 94.61 and touched a high of 94.50 and a low of 94.87 against the greenback. The unit finally settled at 94.58 (provisional), up 17 paise from its previous closing level.
On Tuesday, the domestic currency had risen 9 paise to close at 94.75 against the US dollar.
“The US midterm outcome improved global sentiment, raising expectations of a more measured approach to trade and tariff policies and potentially supporting FII flows into emerging markets,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 101.18, down 0.53 per cent. US Treasury yields also declined amid expectations of a favourable outcome for the Democratic Party in the midterm elections.
Brent crude, the global oil benchmark, declined 0.73 per cent to USD 102.84 per barrel in futures trade, even as geopolitical uncertainties continued.
On the domestic equity market front, the Sensex rose 383.55 points, or 0.50 per cent, to settle at 77,301.40, while the Nifty jumped 149.75 points, or 0.63 per cent, to 23,960.60. Both indices had ended over 1.5 per cent higher in the preceding session.
Foreign Institutional Investors (FIIs) remained net buyers for the third consecutive day on Tuesday, purchasing equities worth Rs 6,836.81 crore, according to exchange data.
