Rupee shows mild strength against US dollar on Friday

Indian rupee has showed mild strength against the US dollar on Friday after commerce ministry in its latest data has showed that India’s merchandise exports rose by 19.63 per cent to $44.24 billion in July 2026 as compared to $36.98 billion in July 2025, driven by a jump in shipments of petroleum products. Petroleum Products exports increased by 67.64% from $4.13 billion in July 2025 to $6.92 billion in July 2026. Further, India’s wholesale price inflation has inflation softened month-on-month for the first time in nine months to 9.78% in July on easing in fuel and food prices. However, persistent geopolitical tensions in West Asia have made investors nervous. Amid ongoing US-Iran tensions, US Defence Secretary Pete Hegseth has said that US can to sustain its naval blockade against Iran indefinitely. On the global front, the Japanese yen has strengthened against the US dollar on Friday amid reports suggesting that the Bank of Japan is eying a September rate hike and could move more aggressively with subsequent increases to stem the currency's falls.

Finally, the rupee ended at 95.42 (Provisional), strengthened by 3 paise from its previous close of 95.45 on Thursday. The currency touched a high and low of 95.44 and 95.38 respectively.