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Rupee Slips 8 Paise to Close at 96.43 Against US Dollar Amid Foreign Outflows
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News18•06-10-2026, 16:15
Rupee Slips 8 Paise to Close at 96.43 Against US Dollar Amid Foreign Outflows
- •The rupee declined 8 paise to settle at 96.43 against the US dollar due to sustained foreign capital outflows and uncertainties surrounding a US-Iran deal.
- •A drop in global crude oil prices and a weaker greenback helped cap further losses for the local currency during interbank foreign exchange trading.
- •Analysts expect the rupee to maintain a negative bias, with the USD-INR spot price projected to trade between 96.15 and 96.60.
- •The Reserve Bank of India's Monetary Policy Committee commenced its three-day meeting, with a potential 25 basis point rate hike anticipated.
- •Domestic equity markets performed strongly, with the Sensex jumping 685.34 points and the Nifty rising 220.35 points despite net equity offloading by FIIs.
Key Questions Answered
The rupee declined 8 paise to settle at 96.43 against the US dollar due to sustained foreign capital outflows and ongoing uncertainties surrounding a US-Iran deal.
The Monetary Policy Committee began its three-day meeting on Monday and is expected to announce a 25 basis point rate hike on Wednesday to address domestic inflation risks stemming from the escalating conflict in West Asia.
The domestic equity market performed strongly on Tuesday, with the Sensex jumping 685.34 points to close at 73,067.81 and the Nifty rising 220.35 points to 22,776.10.
