Rupee Vs Dollar Rate Today: The Indian rupee has extended its gains against the US dollar, strengthening 31 paise to 87.04, marking its highest intraday level in 20 days, i.e., since July 30, 2025. The rise in the domestic currency comes on heels of various domestic and global factors.
The rupee closed at 87.35 against the US dollar on Monday and is expected to trade in a range of 87.20 to 87.60 today. The dollar index rose to 98.21, influenced by US President Trump's talks on ending the war in Ukraine and traders paring bets on a September rate cut.
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Rupee Vs Dollar Rate: Why INR strengthened against USD today
According to Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, exporters are expected to hedge their exports near 87.60, while importers may wait for hedging and buy for cash at the day's lowest level.
"Apart from this the traders who were betting a 95% chance of a FED cut in September pared the bets down to 83% taking the dollar index higher and also the US 10 year to 4.3360%", Bhansali noted.
Brent crude oil prices were around $66.33 per barrel during morning trade, amid inconclusive talks between Trump and Ukrainian President Zelensky. The US dollar positioning has moved from a small short to zero, pointing to no notable current net investor position in the currency, Bhansali said.
He further added, the rupee's rise is also attributed to Foreign Portfolio Investors (FPIs) returning to buying Indian equities after various steps for growth announced by PM Modi, including changes in the GST regime. With Gift Nifty showing a lower opening and a rise in the dollar index, the rupee is expected to open flat and trade within the predicted range.
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