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Rupee strengthens against dollar as Brent crude oil prices plummet

27 Jul 2026 Evaluate

Indian rupee has strengthened against the US dollar on Monday as Brent crude oil prices plummeted over 7% to trade near $89.5 a barrel after the US and Iran refrained from fighting while discussing a possible resumption of negotiations on an interim ceasefire deal. Rupee also got support from easing worries of imminent interest rate hike by US Federal Reserve. Further, investors remained optimistic as Industry body -- Assocham said that the implementation of the India-UK Free Trade Agreement (FTA) is likely to boost India's exports to the UK to $115 billion by 2030 from an estimated $58 billion in 2025-26. On the global front, the British pound has strengthened against the US dollar on Monday amid easing tensions between the Iran and US.

Finally, the rupee ended at 95.97 (Provisional), strengthened by 56 paise from its previous close of 96.53 on Friday. The currency touched a high and low of 96.27 and 95.78 respectively.

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