The Indian rupee strengthened against the US dollar to close 66 paise higher at 94.63 on Wednesday, on the back of renewed truce talks hopes between the United States and Iran.
On Tuesday, the Indian currency had weakened against the US greenback to settle at 95.29. close. However, it opened 25 paise stronger at 95.04.
Today's gains have broken a 6-day long negative streak for the local legal tender, which had weakening against the dollar for almost a week.
Cooling of crude oil prices also eased some of the pressure on the Rupee which had its logged the worst performance in 14 years in FY26.
Brent Crude traded 8% lower at $101.2 per barrel, while the West Texas Intermediate slumped over 9% to $93.10 levels.
ALSO READ: Rupee Under Pressure: Indian Currency's FY26 Performance Worst In Last 14 Years
Indian Rupee's Recap
The Indian rupee logged its worst financial year performance in over a decade, highlighting mounting pressure on the domestic currency amid heightened global volatility and geopolitical tensions.
In fiscal 2026, the rupee depreciated sharply by 9.9%, marking its steepest annual fall since financial year 2012, when it had plunged 12.4%.
This came after relatively moderate declines in recent years, including a 2.4% fall in fiscal 2025 and 1.46% in fiscal 2024. The currency had earlier seen a significant drop of 7.8% in fiscal 2023 and 3.5% in fiscal 2022, while fiscal 2021 stood out as an exception with a 3.3% appreciation.
Looking further back, the rupee has experienced persistent pressure during the last decade. It declined 8.5% in fiscal 2020, 5.7% in financial year 2019 and 0.5% in fiscal 2018. Fiscal 2017 saw a 2.4% gain, while fiscal 2016 and fiscal 2015 recorded declines of 5.7% and 4.17%, respectively. Fiscal 2014 witnessed a sharp fall of 9.4%, followed by a 6.3% drop in fiscal 2013.
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