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The rupee was trading almost flat at 88.78 in the early session on Friday (October 10, 2025), hitting an all-time low against the US dollar due to a stronger greenback in overseas markets.
The rupee is expected to trade in a tight range with chances of breaking the all-time low of 88.80 in the absence of RBI intervention, Forex traders said.
At the interbank forex market, the rupee opened lower at 88.80 but soon recovered to 88.78 against the US dollar, registering a gain of 1 paise from its previous close. The rupee closed at 88.79 against the dollar on Thursday.
Traders said a strong US dollar and demand from importers weighed on the rupee. However, strength in domestic markets and fall in crude oil prices overnight capped the decline.
“RBI is expected to keep a close eye on the rupee to ensure that it does not cross 88.80 for the time being,” said Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP.
Meanwhile, safe-haven demand for the dollar keeps the dollar good, he said.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.22% lower at 99.32.
Global oil benchmark Brent crude was trading 0.18% lower at $65.10 a barrel in futures trade.
On the domestic equity market front, benchmark sensitive index Sensex rose 188.07 points to 82,360.17 in early trade, while Nifty rose 50.65 points to 25,232.45.
Meanwhile, foreign institutional investors bought equities worth ₹1,308.16 crore on Thursday, according to exchange data.
published – October 10, 2025 10:53 am IST
