Rupee trades in narrow range against U.S. dollar in early trade
The Indian Rupee experienced slight volatility against the U.S. dollar, trading near the 96.00 mark due to high oil demand and foreign portfolio outflows. The Reserve Bank of India is actively intervening in the market to stabilize the currency.
Why it matters
Currency fluctuations impact inflation and the cost of imports for India, making RBI intervention a critical factor for the country's macroeconomic stability.
Rupee traded in a narrow range and fell 3 paise to 95.97 against the U.S. dollar in early trade on Thursday (October 1, 2026), constrained by ongoing dollar demand from state-run oil companies.
However, RBI-backed dollar sales across spot and forward markets continue to cap losses, keeping the exchange rate below the 96.00 threshold.
Additionally, sustained foreign portfolio outflows and firm U.S. yields are keeping pressure on the USD/INR pair.
At the interbank foreign exchange market, the rupee opened at 95.95, then fell to 95.97 against the U.S. dollar, registering a fall of 3 paise from its previous close.
On Wednesday (September 29, 2026), the rupee pared gains to settle flat at 95.94 against the U.S. dollar.
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