Rupee Strengthens Against Dollar Amid FPI Inflows and RBI Support

The Indian rupee strengthened against the US dollar on July 31, gaining 15 paise to settle at 95.35 (provisional) in the interbank foreign exchange market.

This positive trend was driven by sustained Reserve Bank of India (RBI) dollar selling and inflows from Foreign Portfolio Investors (FPIs), which have been buying equities worth ₹7,360 crore over the last three days.

The rupee had surged 26 paise to close at 95.50 against the US dollar on July 30, marking its fifth consecutive day of gains.

However, higher global crude oil prices and a stronger greenback capped sharper gains in the local unit, while elevated tensions in West Asia kept markets on edge.