Rupee falls 12 paise to close at Rs 95.74 against US dollar

The rupee fell 12 paise to close at Rs 95.74 (provisional) against the US dollar on Wednesday, weighed down by the broad strength of the American currency and a slight recovery in crude oil prices from lower levels.

Forex traders said the dollar strengthened on hawkish comments from US Federal Reserve officials, raising expectations of a rate hike by the US Fed in 2026. However, positive domestic markets supported the rupee at lower levels.

At the interbank foreign exchange market, the rupee opened at 95.58 against the US dollar, then gained ground and touched an intraday high of 95.57 against the American currency in intraday trade.

The domestic unit saw an intraday low of 95.76 and ended the trading session on Wednesday at 95.74 (provisional) against the American currency, lower by 12 paise from its previous close. On Tuesday, the rupee appreciated 16 paise to close at 95.62 against the US dollar.