Forex traders said the rupee traded in a tight range as investors preferred to remain on the sidelines amid uncertainties over global trade. , Photo credit: Reuters
The rupee fell 4 paise to 88.78 (provisional) against the US dollar on Tuesday (October 7, 2025), amid a stronger US currency overseas and unabated foreign capital outflows.
Forex traders said the domestic currency traded in a tight range as investors preferred to remain on the sidelines amid uncertainties over global trade.
At the interbank forex market, the rupee opened with marginal gains at 88.72 against the US dollar and touched an intra-day low of 88.79 and high of 88.79 before ending the session at 88.78 (provisional), registering a loss of 4 paise from its previous closing level.
On Monday (October 6, 2025), the rupee gained 5 paise to settle at 88.74 against the US dollar.
Investors moved cautiously after the U.S. Senate once again rejected both Democratic and Republican proposals to fund the government, bringing the government shutdown into its sixth day.
Meanwhile, the dollar index, which tracks the greenback’s strength against a basket of six currencies, rose 0.34% to 98.13.
Brent crude, the global oil benchmark, was trading 0.37% lower at $65.25 a barrel in futures trading.
Commerce and Industry Minister Piyush Goyal on Tuesday (October 7, 2025) said India and the US are in continuous dialogue on the proposed bilateral trade agreement, and in all likelihood to meet the November deadline for concluding the talks.
Mr Goyal’s comments came a day after External Affairs Minister S. Jaishankar said any trade deal between India and the US must respect New Delhi’s “red lines”, and efforts were underway to reach an understanding.
According to Mr Jaishankar, there were “issues” between India and the US, and many of them were linked to the inability to consolidate the proposed trade deal, even as he said “there are things you can negotiate and there are things you cannot”.
In domestic equity markets, Sensex climbed 136.63 points or 0.17% to settle at 81,926.75, while Nifty rose 30.65 points or 0.12% to 25,108.30.
According to exchange data, foreign institutional investors offloaded funds worth Rs 313.77 crore on a net basis on Monday (October 6, 2025).
published – October 07, 2025 04:29 PM IST
