Indian Rupee Appreciates 7 Paise Against US Dollar Amid Foreign Fund Inflows

The Indian rupee strengthened by 7 paise to reach 93.70 against the US dollar during early trade on Wednesday. This positive movement follows a period of market closure for Diwali Balipratipada, with the currency opening at 93.71 before gaining further ground in the interbank foreign exchange market. Market experts attribute this <b>appreciation</b> to a steady return of foreign capital into domestic markets and softer crude oil prices. The rupee has emerged as one of Asia's top-performing currencies in FY27, supported by improving geopolitical sentiment and a shift in investor participation after months of significant outflows. Analysts suggest that if these <b>supportive factors</b> persist, the USD/INR pair could potentially extend its decline toward the 93.50 level.