USD/INR: Rupee Boosted Amid Easing Geopolitical Tensions

Indian Rupee got a boost against the US dollar amid easing geopolitical tensions and recovered some of its previous losses. At the interbank market, the value of Rupee appreciated by 50 paise settling up 0.70% at 71.46 against the US dollar.

The USD/INR exchange rate traded on Wednesday within a trading of 72.20 and 71.27.

The risk-off move that started at the end of last week has been faded after both the US and Iran are seeking a de-escalation of the situation. The US President Donald Trump said on Wednesday “the United States is ready to embrace peace with all who seek it.”

At the same time, Iran’s foreign minister, Javad Zarif, said in a tweet that “Iran took [and] concluded proportionate measures in self-defense under Article 51 of UN Charter targeting base from which cowardly armed attack against our citizens & senior officials were launched.” He also added that Iran doesn’t “seek escalation or war.”

The dollar index, which gauges the greenback’s strength against a basket of major currencies, responded positively on easing risk aversion and settled up 0.36% at 97.31. Meanwhile, oil prices got hammered on Wednesday as war drums faded. The crude oil price settled down -4.34% at 59.95, but not before touching levels not seen since 25 April.

Elsewhere, foreign institutional investors (FIIS) were net sellers of shares in the local equity market worth Rs -515.85 crore; according to the National Stock Exchange of India data published at the end of Tuesday’s trading session. On the other hand, Domestic institutional investors were net buyers of equities worth Rs 748.4 crore.

The domestic benchmark equity index NIFTY 50 settled down -0.23% at 12,025.35 on Wednesday. However, during early Asia trading hours NIFTY 50 rebounded strongly and was seen gaping higher at 12,214.20.

The Indian 10-year government bond yield was seen quoted at 6.538% in morning trade compared with its previous close of 6.557%.

Currently, one US dollar buys 71.42 rupees, down -0.06% as of 10:00 AM UTC. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.