In the Interbank Foreign Exchange Market, the rupee opened at 88.68, then lost the ground and touched 88.76 against the US dollar, declining 5 money in its previous close. , Photo Credit: Reuters
The rupee saw the range-bound trading in the morning deals on Friday (October 3, 2025) and reduced 5 money to 88.76 against the US dollar, as the power of American currency in the foreign market and a negative trend in domestic equity was weighed on investor emotions.
Forex traders stated that the USD/INR pair is trading in a narrow range because there are further emotions due to American policies, business stress and pressure of global uncertainties.
In addition, the issue of frequent foreign funds outflow and ongoing American visa fee increase pulled down the domestic unit.
In the Interbank Foreign Exchange Market, the rupee opened at 88.68, then lost the ground and touched 88.76 against the US dollar, declining 5 money in its previous close.
On Wednesday, the rupee recovered 9 money from the conclusion of all its time to settle at 88.71 against the US dollar.
Equity, foreign exchange, bullion and commodity markets were discontinued on Thursday due to Gandhi Jayati and Dussehra.
“Some alternatives to leave a place for any instability in the exporting market may also consider some options strategies. The outflow of capital, high gold imports and the benefits of global risk also contributed to the rupee’s weakness and a challenging currency environment,” Anil Kumar Bhansali, the Treasury’s Chief and Executive Director, Faneux Treasury Advisors said.
Mr. Bhansali further said that the markets continue to increase in the pressure of American policies, trade tension and global uncertainties, which have inspired the Indian rupee for more than 5 percent weakness in the last one year.
Meanwhile, the dollar index, which detects the strength of greenback against a basket of six currencies, increased 0.04% to 97.88.
Global Oil Benchmark Brent crude was trading at $ 64.46 per barrel in futures trade.
On the domestic equity market front, Sensx declined by 299.17 points, to 80,684.14 to open the business, while the Nifty dropped 76.75 points, at 24,759.55.
According to exchange data, foreign institutional investors on Wednesday shut down the price of in 1,605.20 crores on a pure basis.
Meanwhile, the RBI on Wednesday left its major interest rates unchanged, as it was waiting for more clarity on the impact of the earlier rate and recent tax deduction along with the impact of the US tariff.
RBI Governor Sanjay Malhotra, however, indicated scope for ease in the coming months to support the economy with any possible hit from US tariffs in the coming months.
Published – October 03, 2025 10:20 AM IST
