The rupee appreciated 50 paise to 92.56 against the US dollar in early trade on Wednesday after US President Donald Trump announced suspension of military strikes against Iran for two weeks. At the interbank foreign exchange market, the rupee opened at 92.92 against the US dollar, then gained ground to touch 92.56 against the US dollar in initial trade, registering a gain of 50 paise over its previous close. Attention now shifts to the RBI’s first Monetary Policy Committee (MPC) meeting of FY 2026–27. The decision of the six-member Monetary Policy Committee (MPC), headed by Reserve Bank Governor Sanjay Malhotra, will be announced at 10 am. The rupee is likely to remain range-bound with a bit of volatile moves between 92.50 to 93.50 as the markets await the RBI's monetary policy.

Source: The Telegraph April 08, 2026 04:28 UTC