What’s going on with the Indian Rupee vs. Dollar (USD/INR) ahead of 2027?

The Indian rupee (INR) has gained 0.31% against the United States dollar (USD) through November 3 and early on Wednesday, November 4, rising from 94.91 INR per $1 to 94.61 INR per $1. This rally appears primarily linked to the U.S. midterm elections that saw the Democratic Party take both the House of Representatives and the Senate from the Republicans, and secure several governorships, including in states like Texas. Notably, the shift in the political landscape led traders and investors to reevaluate what the superpower’s policies might be in the foreseeable future, and to what extent President Donald Trump can obstruct the legislature – ahead of the election, he declared he would become ‘Mr. Veto’ if the blue wave hits.

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