Rupee jumps 96 paise to close at 95.75 against U.S. dollar
The Indian Rupee experienced its largest single-day gain in six months, closing at 95.75 against the U.S. dollar. This surge follows the Reserve Bank of India's recent intervention to tighten forex derivative rules and reduce speculative demand.
Why it matters
The currency's performance is a key indicator of India's economic health and the effectiveness of central bank interventions in stabilizing domestic markets.
The rupee appreciated 96 paise, logging its steepest single-day gain in more than six months, to close at 95.75 (provisional) against the U.S. dollar on Monday (October 12, 2026) after the Reserve Bank of India over the weekend stepped in with several measures aimed at bolstering the domestic currency.
Forex traders said the RBI's measures could provide near-term support to the rupee by easing spot-market dollar demand and curbing excessive forex positioning.
However, sustained recovery will depend on crude oil prices, capital flows and global market conditions, they said.
At the interbank foreign exchange market, the rupee opened at 95.61 against the U.S. dollar; in intraday trade, the rupee touched a high of 95.57 and a low of 95.96 against the greenback.
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