Indian rupee strengthened against the U.S. dollar on Thursday tracking a correction in global crude prices. However, uncertainty around the U.S.-Iran talks put pressure on the local currency and limited its rise. Traders took note of DPIIT Secretary Amardeep Singh Bhatia’s statement that the total foreign direct investment (FDI) in India has crossed $88 billion during April-February FY26, and it is likely to reach $90 billion in the last fiscal. Traders overlooked the Reserve Bank of India’s (RBI) data showing that bank credit growth in India slowed to 14.88 per cent year-on-year (YoY) in the fortnight ended April 15, 2026 as compared to 15.96 per cent growth recorded in the previous fortnight ending March 31, 2026. On the global front, Japanese yen strengthened against other major currencies in the European session, as Japanese Finance Minister Satsuki Katayama issued a clear intervention warning. 

Finally, the rupee ended at 94.84 (Provisional), strengthened by 4 paise from its previous close of 94.88 on Wednesday. The currency touched a high and low of 95.34 and 94.81 respectively.