Rupee Hits Seven-Month High At 93.69 Against US Dollar On FPI Inflows And Lower Crude Oil Prices

New Delhi, November 11, 2026: The Indian rupee strengthened to its strongest level since April on Wednesday, supported by strong foreign portfolio investor inflows, softer crude oil prices and bullish positioning in forward markets.

The rupee rose 0.2 per cent during the session to close at 93.69 against the US dollar after touching an intraday high of 93.63, marking a sharp reversal from May’s all-time low of 96.96—a level the currency threatened to breach again just last month.

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The rupee is down roughly 4 per cent year-to-date, effectively halving the losses logged at its weakest point earlier in the year. USD-INR encounters resistance at 94.10, with support at 93.50 over the near term, according to market participants, the report from NDTV Profit said.

FPI Inflows Support Rupee

Analysts said the Indian rupee gained ground also due to the absence of intervention from the central bank amid prevailing risk-on sentiment, but a rebound in the US dollar following Tuesday’s inflation figures weighed on the local currency.

US interest rates weighed on emerging-market currencies, but a resurgence in overseas capital revived domestic sentiment. Foreign institutional investors have injected nearly $6 billion into Indian equities in November alone—marking their largest monthly deployment since September 2024.

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Rupee Strengthens To 94.61 Against US Dollar As Global Currency Trends Turn Favourable, Softer Crude Oil Prices And ₹6,836 Crore FII Buying Provide Fresh Support

A recent report said that the Indian rupee could reach 100 against the US dollar by June 2027 despite recent stability, adding that a slowdown in the global artificial intelligence investment cycle and a reversal of recent foreign portfolio investor outflows could redirect global financial savings towards India.

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