Rupee falls 13 paise to close at 96.88 against U.S. dollar
The Indian rupee depreciated by 13 paise to close at 96.88 against the U.S. dollar on October 8, 2026. The decline is attributed to global geopolitical tensions, a strong dollar, and high crude oil prices, despite suspected intervention by the Reserve Bank of India.
Why it matters
Currency fluctuations impact inflation and import costs for the Indian economy, making RBI intervention strategies critical for market stability.
The rupee depreciated by 13 paise to close at 96.88 (provisional) against the U.S. dollar on Thursday (October 8, 2026), on risk aversion in global markets amid escalation of geopolitical tensions.
Forex traders said the rupee is under pressure amid persistent macroeconomic headwinds, including global dollar strength (DXY trading near multi-month highs) and elevated Brent crude prices hovering near $104 per barrel.
However, suspected intervention by the Reserve Bank of India supported the domestic unit at lower levels.
At the interbank foreign exchange market, the rupee opened at 96.71 against the U.S. dollar; in intraday trade, the rupee touched a high of 96.65 and a low of 96.79 against the greenback.
At the end of the trading session on Thursday, the rupee closed at 96.88 (provisional), down 13 paise over its previous close.
On Wednesday, the rupee closed at 96.75 against the American currency.
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