The Indian rupee continues to stay pressured against a firm dollar overseas and resurgence in crude oil prices. INR opened marginally higher at Rs 95.70 per dollar but slipped back to a low of 95.80 so far during the day. Rupee however recovered from initial losses and was last seen trading at 95.66. International oil prices soared back today due to renewed conflicts between the United States (US) and Iran. The US military reportedly claimed to have successfully intercepted what it described as a surprise Iranian attack targeting US troops stationed across the Middle East. Meanwhile, investors are now shifting focus to Federal Reserve's monetary policy decision amidst the ongoing turmoil. Higher oil prices typically boost inflation expectations and force global central banks to lean towards higher or steady interest rates. Losses in the counter were however capped by positive local shares traded sharply higher 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. The benchmark 30-share BSE Sensex surged 750 points, or 1 percent, to 77,516 in early trade, while the broader NSE Nifty index was up 224 points, or 0.9 percent, at 24,208.
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