Rupee rises against dollar amid missile strikes
Analysis based on 7 articles · First reported Jul 31, 2026 · Last updated Jul 31, 2026
The rupee's appreciation and lower oil prices are positive for India's import bill and inflation outlook, supporting market sentiment. However, escalating US-Iran conflict and a stronger dollar could reverse gains, adding volatility to currency and equity markets.
The India — Indian rupee appreciated 20 paise to 95.30 against the US dollar in early trade on Friday, July 31, 2026, marking its fifth consecutive session of gains. The rise was supported by foreign capital inflows and a decline in global crude oil prices, though a stronger dollar capped further gains. The State Bank of India's expected intervention also provided support. Meanwhile, geopolitical tensions escalated as the US and Iran exchanged missile strikes, with Jordan intercepting Iranian missiles for a second day and Kuwait reporting a fatal strike. These developments contributed to a drop in Brent Crude futures to $88.16 per barrel. Domestic equity indices opened higher, with the Sensex up 49.91 points and the Nifty up 28 points. Foreign Institutional Investors were net buyers of Indian equities, purchasing Rs 3,623.51 crore on Thursday.
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