Rupee jumps 40 paise to close at 95.38 against U.S. dollar
The Indian Rupee saw a significant appreciation against the U.S. dollar following interventionist measures by the Reserve Bank of India. These regulatory actions were designed to curb volatility and reduce speculative pressure on the currency.
Why it matters
Currency stability is vital for emerging economies to manage inflation and maintain investor confidence in global markets.
The rupee strengthened for the third straight session on Tuesday (October 13, 2026) and appreciated 40 paise to close at 95.38 (provisional) against the U.S. dollar, supported by various RBI measures aimed at reducing spot dollar demand and curbing excessive positioning in the foreign exchange market.
Forex traders said measures including a dedicated dollar window for oil marketing companies through designated banks and higher costs for certain foreign exchange hedging transactions are expected to reduce dollar demand in the spot market and curb speculative positions against the rupee.
At the interbank foreign exchange market, the rupee opened at 95.53 against the U.S. dollar; in intraday trade, the rupee touched a high of 94.96 and a low of 95.53 against the greenback.
At the end of the trading session on Tuesday (October 13), the rupee was quoted at 95.38 (provisional), registering a gain of 40 paise from its previous close.
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