The rupee opened at ₹95.17 on Thursday, a 5‑paise lift from Wednesday’s close of 95.22, while the dollar index slipped 0.2% on the day the Fed kept rates unchanged.
The Federal Reserve’s decision was largely in line with consensus, but two policymakers voted for a hike, a dovish surprise that nudged the two‑year Treasury yield down 4 basis points to 4.95%.
Brent crude steadied near $115 a barrel, keeping commodity‑driven pressure on the rupee as global oil demand remains uncertain.
RBI stepped in, selling dollars before the market opened, and analysts say the 95.25–95.30 range remains a key resistance. Anil Bhansali, head of treasury at Finrex, noted that a sustained break above this band could trigger more dollar buying, while continued RBI action could keep the pair range‑bound.
Looking ahead, the RBI is likely to intervene again if the rupee slides below 95.30, while the Fed’s next meeting will be watched for any tightening cues that could shift the dollar index in the opposite direction. Oil price volatility will also remain a core risk factor for the rupee’s trajectory.