Rupee rises 10 paise to 96.65 against U.S. dollar in early trade
The Indian rupee saw a slight gain against the U.S. dollar on Thursday, supported by suspected Reserve Bank of India interventions despite broader macroeconomic pressures. Global factors, including rising Brent crude prices and geopolitical tensions in the Strait of Hormuz, continue to weigh on the currency.
Why it matters
Currency fluctuations and oil price volatility directly impact India's inflation and economic stability, making these market movements significant for the national economy.
The rupee traded in a narrow range and edged up 10 paise to 96.65 against U.S. dollar in early trade on Thursday (October 8, 2026) on likely intervention by the Reserve Bank of India.
Forex traders said rupee is under pressure amid persistent macroeconomic headwinds, including global dollar strength (DXY trading near multi-month highs), elevated Brent crude prices hovering near $102 per barrel.
Moreover, relentless foreign fund outflows as well as fall in forex reserves by $50 billion in just three weeks from the high of $786 billion in September dented investor sentiments further.
At the interbank foreign exchange market, the rupee opened at 96.71, then gained some ground to touch 96.65, registering a rise of 10 paise over its previous close.
On Wednesday (October 7, 2026), the rupee closed at 96.75 against the American currency.
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