Spot rupee opened higher at 95.47, as crude oil prices fell following the announcement from Iran and Israel that they would pause fighting. Equity market benchmarks are trading about 0.5% higher in early trades.

DXY traded modestly lower at 99.97 level. Risk sentiment improved slightly after Iran announced end of its military campaign against Israel. Crude oil prices gave up most of intraday gains and ended the day largely unchanged from previous close.

Meanwhile, the Fed New York’s survey showed that Median one-year-ahead inflation expectations in the US decreased to 3.5% in May 2026 from 3.6% in April which was the highest in a year.