Indian rupee posts best week in 7 months, closes 94.96
The Indian rupee just had its best week in seven months, jumping 1.9% to close at 94.96 per US dollar on Friday.
This is the first time since September 8, 2026 that it has finished below the key 95 mark, a sign of real strength, especially with ongoing corporate dollar demand from Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp.
RBI allows oil companies dollar purchases
A lot of this boost came from the Reserve Bank of India stepping in, cutting down on speculative trading, and letting public sector oil companies buy US dollars directly from foreign exchange reserves, which took some pressure off the market.
Plus, a weaker US dollar globally helped keep the momentum going, while high bond yields kept forward premiums elevated.
Analysts see support for the rupee around 94.70 and resistance near 95.50, so all eyes are on what happens next week.