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The rupee pared intra-day losses to settle at 88.69 (provisional) against the American currency on Friday (October 31, 2025) as weak domestic equities and a stronger US dollar in overseas markets offset gains from lower crude oil prices.
At the interbank foreign exchange market, the rupee opened at 88.60 and touched a high of 88.59 and a low of 88.78 against the greenback during the session. The local unit finally closed at 88.69 (provisional), unchanged from its previous closing level.
On Thursday (October 30, 2025), the rupee fell 47 paise to close at 88.69 against the US dollar after US Federal Reserve Chairman Jerome Powell said US inflation remained above the target level and uncertainties in the labor market, reducing hopes of further rate cuts in the December policy.
However, the US Fed cut interest rates by 25 basis points in line with expectations.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.04% to 99.39.
Global oil benchmark Brent crude fell 0.68% to $64.56 a barrel in futures trade.
published – October 31, 2025 04:48 PM IST
