The Indian rupee rose 16 paise to 95.66 (provisional) against the US dollar on Wednesday, extending its gaining streak for the fourth straight session, amid positive cues from domestic equity markets and global crude prices holding around a week low. WTI crude oil prices are renewing gains but staying well under $85 per barrel mark, keeping positive sentiments in INR intact. Indian shares rose sharply on Wednesday after data showed India's industrial production grew 7.3 percent in June, the fastest in nearly two years, as against 2.2 percent a year ago and 5.1 percent growth reported for May 2026. Foreign capital inflows and a weak American currency ahead of the US Federal Reserve's interest rate decisions also supported the local unit. The BSE Sensex rose by 888.68 points (1.16%) to finish at 77,654.60, while the Nifty 50 gained 264.85 points (1.10%) to settle at 24,250.20. At the interbank foreign exchange, the rupee opened at 95.70 and touched the intraday low of 95.80 against the greenback. The unit hit the day's high of 95.48 before ending the session at 95.66 (provisional) against the dollar, up 16 paise from its previous close.
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