2026-05-22 11:53:03 am | Source: Accord Fintech
Rupee strengthens against US dollar in early trade on Friday
The Indian rupee strengthened against the US dollar in early trade on Friday following aggressive intervention by the Reserve Bank of India and renewed hopes for a US-Iran peace deal. Iran said the latest US proposal had helped narrow some of the gaps between the two sides, fuelling hopes for a peace deal and easing concerns over energy supply disruptions through the Strait of Hormuz. However, most Asian currencies remained under pressure as the US dollar index hovered near a six-week high, supported by resilient US economic data and elevated Treasury yields. Meanwhile, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,891.21 crore on a net basis on Thursday, exchange data showed.
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