FX & Currency #rupee#usd
Rupee closes flat at 94.52 vs USD as oil-led rally faces off against dollar demand; Fed verdict looms
The Indian rupee closed nearly unchanged at 94.5250 per US dollar on Wednesday, erasing earlier gains driven by a sharp drop in oil prices. Brent crude fell below $80 after the US and Iran reached an interim peace deal. Corporate and importer dollar demand reversed the rupee's rally. Market attention now shifts to the US Federal Reserve's first policy decision under Chair Kevin Warsh, with markets watching for any signal that the easing cycle may be ending.
Jun 17, 2026 1 source