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Rupee Surges 98 Paise After RBI Steps Up Curbs on Dollar Demand
M
Moneycontrol•12-10-2026, 09:05
Rupee Surges 98 Paise After RBI Steps Up Curbs on Dollar Demand
- •The Indian rupee opened strong at 95.75 per dollar on October 12, gaining 98 paise from its previous close of 96.73.
- •The surge follows increased efforts by the central bank to curb dollar demand and introduce new foreign-exchange rules.
- •Broader Asian currencies also traded higher against the US dollar, led by gains in the South Korean Won and Philippine Peso.
- •The US dollar remained near its strongest level in a year and a half amid escalating Middle East tensions and upcoming US inflation data.
Key Questions Answered
The Indian rupee opened higher by 98 paise at 95.75 per dollar after the Reserve Bank of India stepped up efforts to curb dollar demand.
Asian currencies traded higher against the US dollar, led by the South Korean Won rising 0.355% and followed by gains in the Philippine Peso, Chinese Renminbi, Japanese Yen, Indonesian Rupiah, Thai baht, Singapore Dollar, Malaysian Ringgit, and Taiwan Dollar.
An escalating Middle East conflict kept investors wary, while the dollar held ground near its strongest level in a year and a half ahead of key US inflation data that will influence monetary policy.
