Rupee gains 17 paise to settle at 94.58 against U.S. dollar
Positive domestic equities market also favoured the local currency even as the outcome of the U.S. midterm elections improved global sentiment, forex traders said
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Published - November 04, 2026 04:26 pm IST - Mumbai
Indian Rupee icon.3d illustration | Photo Credit: bluebay2014
The rupee stayed firm for the second straight session to settle 17 paise higher at 94.58 (provisional) against the U.S. dollar on Wednesday (November 4, 2026), drawing support from easing crude oil prices, a weak American currency, and capital inflows from overseas investors.
Positive domestic equities market also favoured the local currency even as the outcome of the U.S. midterm elections improved global sentiment, forex traders said.
In the interbank foreign exchange market, the rupee opened at 94.61 and hit a high of 94.50 and a low of 94.87 against the greenback.
The unit finally settled at 94.58 (provisional), up 17 paise from its previous closing level.
On Tuesday (November 3, 2026), the domestic currency rose 9 paise to close at 94.75 against the U.S. dollar.
"The U.S. midterm outcome improved global sentiment, raising expectations of a more measured approach to trade and tariff policies and potentially supporting FII flows into emerging markets," said Vinod Nair, Head of Research, Geojit Investments Limited.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 101.18, lower by 0.53%.
U.S.
Treasury yields also declined amid expectations of a favourable outcome for the Democratic Party in the midterm elections.
Brent crude, the global oil benchmark, declined 0.73% to $102.84 per barrel in futures trade, even as geopolitical uncertainties continued.
On the domestic equity market front, Sensex rose 383.55 points, or 0.50%, to settle at 77,301.40, while the Nifty jumped 149.75 points, or 0.63% to 23,960.60.
Both indices ended over 1.5% higher in the preceding session.
Foreign Institutional Investors (FIIs) remained net buyers for the third consecutive day on Tuesday (November 3, 2026), purchasing equities worth ₹6,836.81 crore, according to exchange data.
market and exchange / economy, business and finance
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