The Indian rupee strengthened by 18 paise against the US dollar on Wednesday, opening at 94.42 compared to its previous close of 94.60. The domestic currency touched its strongest level since May 7, 2026, reflecting improved investor sentiment and easing concerns over India's import bill.
Arvind Panagariya has advised the Reserve Bank of India not to let the rupee approaching Rs 100 against the US dollar dictate monetary policy decisions. In a post on X, Panagariya said the “psychology” surrounding the Rs 100 mark should not influence policy responses
