Indian Rupee's Six-Day Rally Boosts Crypto Buying Power
The Indian rupee has strengthened for six consecutive sessions, closing at ₹95.35 against the US dollar on Friday.
This rally is attributed to sustained RBI dollar selling and a shift in foreign portfolio investor behavior, with FPIs buying ₹7,360 crore worth of Indian equities over the past three days.
Analysts expect the rupee to trade between ₹95 and ₹95.60 near term, supported by a softer dollar and dovish Fed expectations, but renewed US-Iran tensions could cap that upside.
A stronger rupee makes buying cryptocurrencies cheaper for Indian investors, as every major cryptocurrency's price is first converted into dollars and then into rupees at purchase.
For example, if the dollar falls from ₹96 to ₹95.35, buying $1,000 of USDT costs roughly ₹650 less than a week earlier.