Rupee opens at ₹94.68 Wednesday as oil prices ease
The rupee started Wednesday at 94.68 against the US dollar, just a touch weaker than before, but things are looking up thanks to falling oil prices and efforts to stabilize the currency.
Earlier this year, the rupee hit a record low of near 97 per US dollar after oil prices spiked due to global tensions, but now those pressures are easing and investors are feeling more optimistic.
India markets attract foreign funds
Since India imports most of its oil, lower prices have helped steady the rupee around 94.50 in June and made Indian markets more attractive to foreign investors: some are even shifting funds from South Korea and Taiwan into India for better value.
Analysts say strong corporate earnings expected in the current and next fiscal year (FY2026-27 and FY2027-28) could keep confidence high and support both market recovery and a stable rupee.