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Rupee rises 9 paise to 94.80 against US dollar in early trade
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News18•19-10-2026, 10:15
Rupee rises 9 paise to 94.80 against US dollar in early trade
- •The rupee gained 9 paise to reach 94.80 against the US dollar in early trade, supported by the Reserve Bank of India’s forex interventions.
- •Forex traders noted that the rupee experienced its sharpest rally in seven months, though surging Brent crude oil prices pose a threat.
- •At the interbank foreign exchange, the rupee opened at 94.90 and touched 94.80, marking a gain from its previous close.
- •The domestic equity market saw the Sensex drop 470.50 points to 74,318 and the Nifty fall 147.10 points to 22,999.05 in early trade.
- •India’s foreign exchange reserves dropped by USD 8.578 billion to USD 726.027 billion during the week ended October 9.
Key Questions Answered
The rupee gained 9 paise to 94.80 against the US dollar, supported by the ongoing impact of the Reserve Bank of India’s structural forex interventions.
The surge in Brent crude oil to USD 110 per barrel poses the biggest threat to the rupee's recovery, alongside high crude prices, rising US Treasury yields, and steady foreign capital outflows.
According to RBI data, India’s foreign exchange reserves dropped by USD 8.578 billion to USD 726.027 billion during the week ended October 9, following a USD 12.952 billion drop in the previous reporting week.