Rupee falls 5 paise to close at 96.30 against U.S. dollar
The Indian rupee closed at 96.30 against the U.S. dollar, pressured by rising oil prices and foreign fund outflows. Market analysts are now focused on the upcoming Reserve Bank of India monetary policy meeting, where a rate hike is anticipated.
Why it matters
Currency depreciation and potential interest rate hikes directly impact inflation, consumer purchasing power, and the broader Indian economy.
The rupee depreciated 5 paise to close at 96.30 (provisional) against the U.S. dollar on Monday (October 5, 2026), as elevated oil prices and persistent foreign fund outflows kept the Indian currency range-bound near the critical 96 level against the U.S. dollar.
Forex traders said a boost in risk-on sentiment supported the rupee, though traders are now turning their attention towards foreign capital flows and the Reserve Bank of India's upcoming monetary policy decision for further cues.
At the interbank foreign exchange market, the rupee opened at 96.20, then lost ground to touch an intraday low of 96.31 against the American currency. At the end of Monday's trading session, the domestic unit was quoted at 96.30 (provisional) against the greenback, lower by 5 paise over its previous close.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in