Rupee rises 9 paise to 87.79 against US dollar in early trade

The rupee rose 9 paise to 87.79 against the dollar in early trade on Friday (October 24, 2025), boosted by a fall in global crude oil prices and optimism around the India-US trade deal.

However, forex traders said FII outflows capped sharp gains.

At the interbank foreign exchange, the rupee opened at 87.78 against the US dollar and then declined marginally to 87.79, 9 paise lower than its previous close.

On Thursday (October 23), the rupee closed 5 paise higher at 87.88 against the US dollar.

“Reserve Bank of India was again at 87.95 yesterday [Thursday, October 23]Ensuring that the rupee did not cross the 88.00 level, the rupee closed at its peak on US-India trade deal optimism. Global sentiment remains mixed as oil prices rise,” said Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was up 0.08% to trade at 99.01.

Global oil benchmark Brent crude was trading 0.55% lower at $65.63 per barrel in futures trade.

“After rising more than 5% on Thursday (October 23) due to US sanctions on the exports of two Russian oil companies (which account for more than 5% of total world oil production), Brent oil prices were steady at $65.63 a barrel and were set for their biggest weekly gain since June 2025. On a weekly basis prices are 7% higher, marking one of the most significant weekly rebounds in almost 4 months,” Mr. Bhansali said.

On the domestic equity market front, Sensex was down 153.18 points at 84,403.22 in early trade, while Nifty was down 51.1 points at 25,840.30.

Foreign institutional investors sold equities worth ₹1,165.94 crore on Thursday (October 23), according to exchange data.