Indian currency notes are displayed on top of a newspaper at a roadside currency exchange stall in the old neighborhoods of Delhi, India on September 24, 2025. Reuters/Anushree Fadnavis | Photo courtesy: Reuters
The rupee appreciated by 10 paise to close at 88.69 (provisional) against the US dollar on Friday (October 10, 2025) due to strengthening in domestic markets and widespread weakness in crude oil prices.
Forex traders said the rupee gained on strong domestic markets and decline in commodity prices overnight.
The domestic currency also got support from the intervention of the central bank. However, a strong US dollar limited sharp gains.
At the interbank forex, the rupee opened at 88.80 and traded in the range of 88.50-88.80 before closing at 88.69 (provisional), 10 paise higher than its previous close.
On Thursday (October 9), the rupee closed at 88.79 against the dollar.
Anuj Chaudhary, Research Analyst, Currency and Commodity, Mirae Asset Sharekhan said, “We expect the rupee to trade with a positive bias due to strength in domestic markets and broader weakness in crude oil prices. The US government shutdown and rising possibility of a rate cut by the US Federal Reserve may further strengthen the rupee.”
Mr Chaudhary further said that “stronger US dollar and importer demand for the dollar may increase sharply. USD-INR spot price is expected to trade between 88.40 to 88.85”.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.21% lower at 99.32 as safe-haven demand for the greenback continued to bid well.
Global oil benchmark Brent crude was trading 0.61% lower at $64.85 per barrel in futures trade.
On the domestic equity market front, benchmark sensitive index Sensex rose 328.72 points or 0.40% to 82,500.82, while Nifty rose 103.55 points or 0.41% to 25,285.35.
Meanwhile, foreign institutional investors bought equities worth ₹1,308.16 crore on Thursday (October 9), according to exchange data.
published – October 10, 2025 04:23 PM IST
