The Indian rupee appreciated 13 paise to close at 95.15 (provisional) against the US dollar on Wednesday after the Reserve Bank of India (RBI) kept the repo rate unchanged for the third consecutive monetary policy meeting in FY27.
According to forex traders, the domestic currency was supported by a decline in crude oil prices, a weaker US dollar in global markets, and lower US Treasury yields, which improved investor sentiment.
The RBI's decision to maintain the policy rate, while retaining its neutral stance amid uncertainties stemming from the West Asia conflict, also provided stability to the currency market.