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Rupee surges 47 paise to close at 92.59/USD on ceasefire, RBI policy rates

Wed, 08 April 2026

19:21

The rupee appreciated 47 paise to close at 92.59 (provisional) against the US dollar on Wednesday after US President Donald Trump announced the suspension of military strikes against Iran for two weeks, and the Reserve Bank kept the key benchmark rate unchanged with a neutral stance.

Forex traders said investor sentiment got a boost after Governor Sanjay Malhotra assured that the steps taken on forex do not constitute a structural change.

Moreover, confidence was exuded in the health of the banking system, notwithstanding recent developments in some private banks.

Malhotra said the banking sector regulator did not come across any governance or conduct-related issues during the supervisory inspection of HDFC Bank.

At the interbank foreign exchange market, the rupee opened at 92.92 against the US dollar, then gained ground to touch 92.56 against the US dollar in initial trade and finally ended the day at 92.59 (provisional) against the greenback, registering a gain of 47 paise over its previous close. -- PTI

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