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Rupee Hits 7-Month High Amid Foreign Investment Surge
11 Nov
Summary
- Indian rupee reached its highest level since April.
- Foreign investors poured nearly $6 billion in November.
- October inflation data for India is due on Thursday.
As of November 11, 2026, the Indian rupee has reached its strongest point against the dollar since April. This notable appreciation occurred despite a broadly stronger global dollar, which was buoyed by higher-than-expected US inflation data and hawkish remarks from Federal Reserve officials.
Traders attributed the rupee's rise to significant foreign investment in Indian stocks, with nearly $6 billion invested in November alone. Activity in the non-deliverable forward market also indicated a positive sentiment surrounding the currency. The rupee has recovered considerably from its record low of 96.96 in May.
Attention is now turning to India's inflation data for October, scheduled for release on Thursday. Economists polled by Reuters anticipate that annual consumer inflation likely increased to 5.93% in October from 5.54% in September. This data will be a key factor for market participants.
