Rupee trades in narrow range against U.S. dollar in early trade
The Indian rupee is hovering near the 96 mark against the U.S. dollar due to high crude oil prices and foreign fund outflows. The Reserve Bank of India is actively intervening to manage volatility ahead of a key monetary policy meeting.
Why it matters
Currency depreciation and inflation pressures significantly impact India's macroeconomic stability and import costs.
The rupee traded in a narrow range against the U.S. dollar in early trade on Monday (October 5, 2026), and was hovering around the crucial 96 mark, amid persistent pressure from elevated crude oil prices and sustained foreign fund outflows.
Forex traders said periodic dollar interventions by the Reserve Bank of India (RBI) helped smooth excessive intraday volatility and capped sharper losses for the rupee, though the overall macro environment of elevated import bills and persistent greenback strength weighed on investor sentiment.
At the interbank foreign exchange market, the rupee opened at 96.20, then fell to 96.26 against the U.S. dollar, registering a fall of 1 paisa from its previous close.
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