Stories
Rupee rises 35 paise against US dollar on RBI measures and unwinding of bets
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CNBC TV18•16-10-2026, 09:18
Rupee rises 35 paise against US dollar on RBI measures and unwinding of bets
- •The Indian rupee opened 35 paise higher at 94.71 against the US dollar compared to its previous close of 95.06.
- •Traders unwound bearish bets on the domestic currency while expectations of continued dollar selling by the Reserve Bank of India provided support.
- •Recent RBI measures aimed at curbing dollar demand have been a key factor behind the rupee's movement and forward market activity.
- •Offshore NDF market rates are trading at a discount to onshore counterparts, reflecting the unwinding of bullish dollar positions.
- •The rupee's near-term trajectory will depend on market adjustments, RBI dollar sales, and broader movements in Asian currencies.
Key Questions Answered
The Indian rupee opened 35 paise higher at 94.71 against the US dollar as traders unwound bearish bets and expected continued dollar selling by the Reserve Bank of India.
The RBI introduced measures including a reserve requirement for certain large foreign-exchange transactions involving forward dollar purchases to curb dollar demand and support the domestic currency.
Offshore NDF rates reflect market expectations and positioning outside India, offering an indication of how traders view the rupee when trading at a discount to the onshore market.
