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The rupee fell 16 paise to close at 88.66 (provisional) against the US dollar on Wednesday (November 12, 2025) due to the strengthening of the American currency and high crude oil prices in the foreign market.
Forex traders said the rupee traded within a range on renewed optimism over the India-US trade deal and rising expectations that the government shutdown will end soon, giving support to the domestic unit at lower levels.
At the interbank foreign exchange, the rupee opened at 88.61 against the US dollar and touched a high of 88.56 and a low of 88.66 during the day.
The domestic unit finally closed for the day at 88.66 (provisional), registering a loss of 16 paise from the previous close.
On Tuesday (November 11, 2025), the rupee had closed at 88.50 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.15% higher at 99.58 on optimism that the US government shutdown will end soon.
The Senate has approved a bill to end the shutdown and the House of Representatives could vote on it on Wednesday.
Global oil benchmark Brent crude was trading 0.36% higher at $64.28 a barrel in futures trade.
Additionally, optimism over a near-term US trade deal supported the local unit, he said.
President Donald Trump has said the US is “very close” to reaching a “fair trade deal” with India, adding that he will reduce tariffs imposed on Indian goods “at some point”.
This is the second time in less than two weeks that the US President has expressed hope of ratifying the proposed bilateral trade agreement with India.
On the domestic equity market front, Sensex jumped 595.19 points to close at 84,466.51, while Nifty rose 180.85 points to 25,875.80.
According to exchange data, foreign institutional investors sold equities worth ₹803 crore on Tuesday (November 12, 2025).
published – November 12, 2025 04:40 PM IST
