Rupee jumps 52 paise to 93.89, its strongest close since April, as foreign money pours in

The rupee rose 52 paise to 93.89 against the US dollar on Friday, its strongest close since April, as foreign investors kept pouring money into Indian shares.

The currency opened at 94.50 in the interbank market, weaker than Thursday’s close of 94.41, but turned round as the share market rallied through the day. By the close it had settled, provisionally, at 93.89, a gain that came on top of a small rise on Thursday.

Foreign buyers return

The move followed a remarkable day of foreign buying. Foreign institutional investors bought ₹14,974.68 crore of Indian shares on Thursday, their largest net purchase in a single day in nearly six years, according to exchange data. Domestic institutions went the other way and sold ₹10,444.54 crore, booking profits into the rally.

That money showed up in the banks. The Nifty Bank index rose 2.27% on Friday to close at an eight-month high, and the Nifty Financial Services index gained 2.57%, the best of the sectors. Both the Sensex and the Nifty closed higher for a seventh straight session, with the Sensex up 1,718 points.

Rupee and flows, November 6, 2026

• 93.89 rupee per dollarProvisional close, up 52 paise from 94.41
• ₹14,974.68 cr foreign buyingNet purchase by FIIs on November 5
• ₹10,444.54 cr domestic sellingNet sale by DIIs on November 5

What the dealers see

Anuj Choudhary, research analyst at Mirae Asset Sharekhan, said he expected the rupee to keep a positive bias, helped by the strength in domestic shares, rising foreign inflows and a weaker dollar after the US mid-term elections. He put the likely range for the dollar at 93.65 to 94.20 rupees.

He also named the risks. Tension between Ukraine and Russia and attacks in the Middle East could cap the rupee’s gains, he said, and traders will watch the US jobs report due later on Friday for the next cue.

The rally at home came against a rough day abroad. Tech shares fell sharply in New York on Thursday on worries about spending on artificial intelligence, and markets in Seoul and Tokyo dropped steeply on Friday morning. Indian shares and the rupee shrugged off the sell-off, carried by the foreign money coming in.