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.
India's foreign exchange reserves declined by $7.511 billion to $681.384 billion for the week ended May 22, according to the latest data released by the Reserve Bank of India. This marks the second consecutive weekly decline and takes the country's forex reserves to their lowest level in more than a year.
