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Indian rupee strengthens against US dollar on Wednesday
Nov-04-2026

Indian rupee has strengthened against US dollar on Wednesday as crude oil prices continued to ease amid hopes of peace talks between US and Iran. The domestic currency also got support from capital inflows from foreign institutional investors (FIIs). FIIs were the net buyers in Tuesday’s session with net buying of Rs 6,836.81 crore. Besides, investors were sanguine about country’s economic health after HSBC India Services PMI data showed that India’s services sector activity recorded the strongest pace of expansion in four months in October 2026 as demand buoyancy fuelled growth in business activity and new orders amid easing cost pressures. The seasonally adjusted HSBC India Services PMI Business Activity Index rose to 55.8 in October from 55.2 in September. On the global front, euro has strengthened against the US dollar on Wednesday as Democrats’ win in both houses of US Congress weighed on US dollar.

Finally, the rupee ended at 94.62 (Provisional), strengthened by 13 paise from its previous close of 94.75 on Tuesday. The currency touched a high and low of 94.87 and 94.50 respectively.

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