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Rupee Slips 5 Paise to Close at 96.30 Against US Dollar Amid Oil Pressures
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News18•05-10-2026, 16:15
Rupee Slips 5 Paise to Close at 96.30 Against US Dollar Amid Oil Pressures
- •The Indian rupee depreciated by 5 paise to provisionally close at 96.30 against the US dollar on Monday.
- •Persistent foreign fund outflows and elevated oil prices kept the domestic currency range-bound near the critical 96 level.
- •Market participants are closely watching the Reserve Bank of India’s upcoming monetary policy decision and foreign capital flows for further market cues.
- •Domestic equity indices performed strongly, with the Sensex jumping 472.77 points and the Nifty climbing 133.80 points.
- •India's forex reserves dropped by USD 18.343 billion to USD 747.557 billion during the week ended September 25.
Key Questions Answered
The rupee depreciated 5 paise to close at 96.30 against the US dollar due to elevated oil prices and persistent foreign fund outflows, which kept the domestic currency range-bound near the critical 96 level.
India's forex reserves dropped by USD 18.343 billion to USD 747.557 billion during the week ended September 25, following a previous decline of USD 14.881 billion down to USD 765.901 billion.
The Reserve Bank's Monetary Policy Committee began its three-day meeting and was likely to raise rates by 25 basis points, aligning with a hawkish stance amid escalating conflict in West Asia.
