Rupee gains 12 paise to close at 96.24 against U.S. dollar

Rupee pared initial losses and settled for the day higher by 12 paise at 96.24 (provisional) against the U.S. dollar on Tuesday (July 21, 2026), as traders assessed the strong inflows related to the Reserve Bank’s initiatives to support foreign exchange liquidity amid global market uncertainties.

Forex traders said India attracted $20.72 billion in forex inflows under the swap facility since June, providing significant structural support to the country’s balance of payments position.

At the interbank foreign exchange, the rupee opened at 96.41 against the U.S. dollar and traded in the range of 96.13 to 96.42 during the day. The domestic unit finally settled for the day at 96.24 (provisional), higher by 12 paise from its previous close.

On Monday (July 20, 2026), the rupee fell 6 paise to 96.36 against the U.S. dollar.

The Reserve Bank on Monday (July 20, 2026) said its concessional swap facility, introduced to encourage foreign currency inflows, has attracted $20.72 billion till July 17. The swap facility has seen avid interest and attracted steady forex inflows since June 8, 2026.

A strong mobilisation was witnessed through Foreign Currency Non-Resident (Bank) or FCNR (B) deposits.

Of the total inflows, FCNR (B) deposits accounted for $17.406 billion, while Overseas Foreign Currency Borrowings (OFCBs) contributed $1.97 billion and External Commercial Borrowings (ECBs) amounted to $1.342 billion, the central bank said in a statement on Monday (July 20, 2026).

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.03% at 100.91.

Brent crude, the global oil benchmark, was trading 0.25% higher at $89.44 per barrel in futures trade.

The USD/INR pair continue to remain under pressure as the dollar index has touched 100.91 while oil prices were well bid at $89.44 per barrel, traders said, adding that the U.S.-Iran conflict and the Houthi-Saudi blockade could again risk the West Asia oil supplies.

On the domestic equity market front, Sensex declined 238.41 points to settle at 77,470.11, while the Nifty dipped 50.80 points to 24,187.70.

Foreign Institutional Investors offloaded equities worth ₹1,121.04 crore on a net basis on Monday (July 20, 2026), according to exchange data.