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Rupee Slips 10 Paise to Close at 96.35 Against US Dollar
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News18•05-10-2026, 20:45
Rupee Slips 10 Paise to Close at 96.35 Against US Dollar
- •The Indian rupee depreciated by 10 paise to settle at 96.35 against the US dollar due to high oil prices and continuous foreign fund outflows.
- •Forex traders are closely watching upcoming foreign capital flows and the Reserve Bank of India's monetary policy decision for future market cues.
- •The Reserve Bank of India's Monetary Policy Committee commenced its three-day meeting, with expectations of a potential rate hike.
- •Domestic equity markets performed well, with the Sensex jumping 472.77 points and the Nifty climbing 133.80 points.
- •Foreign Institutional Investors offloaded equities worth Rs 4,699.14 crore on a net basis.
Key Questions Answered
The rupee depreciated 10 paise to close at 96.35 against the US dollar due to elevated global oil prices and persistent foreign fund outflows. Additionally, FIIs offloaded equities worth Rs 4,699.14 crore on a net basis during the session.
The Reserve Bank of India's policy repo rate currently stands at 5.25 per cent. Its Monetary Policy Committee convened for a three-day meeting amid expectations of a 25 basis point rate hike.
India's forex reserves dropped by USD 18.343 billion to stand at USD 747.557 billion during the week ended September 25. In the previous reporting week, the reserves had declined by USD 14.881 billion to USD 765.901 billion.
