Indian Rupee Trading At 95.34 Against The Dollar

Financial Market Overview

USDINR

The Indian rupee opened with a gap-down at 95.3950 against the U.S. dollar on Friday, compared with its previous close of 95.68 on Thursday. The Indian rupee opened 29 paise higher at a three-week high of 95.39 against the US dollar on July 31, 2026, driven by a declining dollar index, softer crude oil prices, and active intervention by the Reserve Bank of India. While the currency is on track for its strongest weekly performance in four months, analysts note that further appreciation will depend on global crude oil stability and ongoing geopolitical tensions.

United States 10-Year rates were 4.651% on the bond markets, while 2-year Treasury yields were 4.233%. The DXY index trading around 100.19.

At the time of writing, the USDINR was trading at 95.3375/95.3475.

GBPUSD

The British Pound retreated from a three-day winning streak to trade around 1.3450 during Asian trading hours on Friday, weighed down by a strengthening US Dollar that benefited from a hawkish Federal Reserve pause and a divided 9-3 FOMC vote. Even though geopolitical developments, such as easing tensions in the Middle East and progress toward a historic agreement on Gaza and the Strait of Hormuz, threaten to curb safe-haven demand for the Greenback, currency markets also digested a surprise 6-3 policy split from the Bank of England where official rates were left unchanged alongside a hawkish dissent from Mann.

At the time of writing, the GBPUSD was trading at 1.3449/1.3450.

EURUSD

During the early Asian trading hours on Friday, the EUR/USD pair declined toward the 1.1515 level as escalating tensions from the expanding conflict between the United States and Iran stoked broad risk-off sentiment in the markets. This downward pressure on the Euro coincided with the US Federal Reserve keeping interest rates unchanged at its recent meeting, alongside shifting market expectations that currently price in a reduced probability for a September rate hike. Meanwhile, strategists note that the European Central Bank offers clearer policy guidance compared to the uncertainty surrounding US monetary leadership, providing a contrasting dynamic for the shared currency amid ongoing geopolitical headwinds.

At the time of writing, the EURUSD was trading at 1.1512/1.1513.

USDJPY

The Bank of Japan decided to keep its short-term interest rate steady at 1.00% by an 8-1 vote following its July policy review, aligning with widespread market expectations while board member Takata unsuccessfully proposed an increase to 1.25%. Although the decision maintained the existing monetary stance, the central bank revised several economic and inflation forecasts upward in its quarterly Outlook Report, emphasizing that underlying inflation is approaching the 2% target and noting that future rate hikes remain contingent on ongoing economic, price, and Middle East developments. In response to the announcement, the Japanese Yen faced renewed selling pressure, pushing the USD/JPY pair higher toward 160.80 as investors continued to monitor potential currency interventions and upcoming central bank communication.

At the time of writing, the USDJPY was trading at 160.68/160.69.