Rupee falls 8 paise to close at 96.43 against U.S. dollar
The Indian rupee depreciated to 96.43 against the U.S. dollar amid foreign capital outflows and geopolitical uncertainty regarding a U.S.-Iran deal. While lower crude oil prices provided some support, the market remains cautious ahead of an expected interest rate hike by the Reserve Bank of India.
Why it matters
Currency fluctuations and central bank policy shifts directly impact domestic inflation and the cost of imports for the Indian economy.
The rupee declined 8 paise to settle at 96.43 (provisional) against the U.S. dollar on Tuesday (October 6, 2026) amid sustained outflows of foreign capital and uncertainties over a U.S.-Iran deal.
However, a drop in global crude oil prices and a weaker greenback capped the rupee's fall, according to forex traders.
At the interbank foreign exchange, the rupee opened at 96.29 and traded in the range of 96.29-96.45 before eventually settling at 96.43 (provisional), down 8 paise from its previous close.
The rupee depreciated 10 paise to close at 96.35 against the U.S. dollar on Monday.
"The rupee traded on a weak note but recovered from day's lows on sharp fall in crude oil prices and softening of U.S. dollar and U.S. treasury yields," Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan, said.
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