Representative Image | Photo courtesy: Reuters
The rupee witnessed a range-bound trade on Wednesday (October 8, 2025) and closed at 88.80 (provisional), down three paise on the day against the US dollar, tracking negative trends in domestic equities amid rising risk-off sentiments.
Forex traders said the US dollar was holding its ground, yet tensions were rising beneath the dollar’s stable footing.
Supported by domestic triggers such as IPO-related inflows, the rupee is likely to remain in a narrow range, and possible progress in the US-India trade talks may gradually tilt the sentiment in favor of the rupee.
At the interbank forex, the rupee opened at 88.76 against the US dollar, touched an intraday low of 88.81 and finally closed for the day at 88.80 (provisional), showing a loss of 3 paise over its previous close.
On Tuesday (October 7, 2025), the rupee fell three paise to close at 88.77 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.31% higher at 98.88.
Global oil benchmark Brent crude was trading 1.25% higher at $66.27 a barrel in futures trade.
According to exchange data, foreign institutional investors bought equities worth ₹1,440.66 crore on a net basis on Tuesday (October 7, 2025).
On the domestic equity market front, Sensex fell 153.09 points to close at 81,773.66, while Nifty fell 62.15 points to 25,046.15.
Meanwhile, Commerce and Industry Minister Piyush Goyal on Tuesday (October 8, 2025) said India and the US are continuously in talks on the proposed bilateral trade agreement, and there are all chances of meeting the November deadline for concluding the talks.
On the possibility of the next round of trade talks in physical mode, he said every possibility exists, but with the US government currently in shutdown mode, it remains to be seen how, where and when the next round of talks can take place.
published – October 08, 2025 04:44 PM IST
