Neutral impactForex
Rupee ends flat at 94.90 despite fall in oil prices
Economic Times 2 hrs ago·3 Nov 2026, 12:26 am
The Indian rupee ended the trading session virtually unchanged at 94.90 against the US dollar, hovering in a narrow range of 94.69 to 95.03. While falling global oil prices and a weaker dollar typically provide support to the currency, strong demand for the greenback from domestic buyers kept the rupee in check. This mixed performance highlights the complex factors influencing the forex market.
For investors, the flat close suggests that domestic currency volatility remains a key risk factor. However, the market sentiment received a slight boost as Foreign Portfolio Investors (FPIs) turned net buyers, purchasing shares worth over ₹3,100 crore. This inflow indicates foreign interest in Indian equities, which can indirectly support the rupee. Moving forward, the upcoming US midterm elections will be a critical event to watch, as global political shifts often trigger rapid movements in currency markets.
Excerpt from Economic Times
The Indian rupee closed at 94.90, witnessing a range from 95.03 to 94.69. Market participants remained on edge with the US midterm elections looming, impacting overall sentiment. Despite falling oil prices and a weaker dollar, there was an uptick in dollar demand. Notably, Foreign Portfolio Investors turned net…Read the original at Economic Times
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- Category: Forex.
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