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Rupee strengthens against US dollar ahead of US Fed’s interest-rate decision

28 Jan 2026 Evaluate
The Indian rupee strengthened against the US dollar in early trade on Wednesday, supported by weakening American currency against its major peers overseas ahead of the US Federal Reserve’s interest-rate decision. Moreover, firm domestic equities amid recent finalization of a trade agreement between India and the European Union, and robust buying from Domestic Institutional Investors have also supported rupee sentiments. However, some gains were limited by foreign fund outflows and higher crude oil prices. Foreign Institutional Investors offloaded equities worth Rs 3,068.49 crore, while Domestic Institutional Investors bought equities worth Rs 9,000 crore on Tuesday, exchange data showed.

The partially convertible currency is currently trading at 91.63, stronger by 5 paise from its previous close of 91.68 on Tuesday. The currency touched a high and low of 91.6675 and 91.50 respectively.

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